Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

Swiss Six exchange opens probe into Clariant whistleblower case

Published 01/12/2023, 01:34 AM
Updated 01/12/2023, 04:43 AM
© Reuters. FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland August 9, 2017.  REUTERS/Arnd Wiegmann/File Photo

© Reuters. FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland August 9, 2017. REUTERS/Arnd Wiegmann/File Photo

BERLIN (Reuters) - Switzerland's Six stock exchange on Thursday opened an investigation into Clariant over the possible disclosure of price-sensitive information, following whistleblowers' allegations that some staff had manipulated accounts.

Six said in a statement that it was investigating whether a breach of regulations had occurred.

A spokesperson for the specialty chemical company said the investigation related to a delay in publishing its 2021 results, due to an investigation into the accounting of some provisions and accruals.

In February, Clariant delayed the release of 2021 results as independent advisors looked into the allegations that some staff manipulated accounts in 2020 and 2021 to help meet financial targets.

© Reuters. FILE PHOTO: The logo of Swiss specialty chemicals company Clariant is seen at the company's headquarters in Pratteln, Switzerland August 9, 2017.  REUTERS/Arnd Wiegmann/File Photo

In April that investigation concluded that there had been no impact on sales and cash numbers previously reported, it said.

It also said that restated and preliminary 2020 financial statements implied a continuing operations EBITDA margin of 15.5% versus the 15.0% previously reported, while its preliminary 2021 EBITDA margin of 16.2% was in line with previous guidance.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.