NMC Health Plc
|Company Name||NMC Health Plc|
On December 17, 2019, Muddy Waters Capital issued a report stating that there are "serious doubts about the company’s financial statements, including its asset values, cash balance, reported profits, and reported debt levels."
On this news, the Company’s share price fell $11.68, or over 33%, to close at $23.00 per share on December 17, 2019, thereby injuring investors.
Then on February 24, 2020, it was announced that the former CEO, Joint Chairman of the Board, and founder of the Company, B.R. Shetty, "had pledged 7 million of the company’s shares as security for debt" to Goldman Sachs and that he held a significantly smaller interest in the Company than previously stated.
On this news, the Company’s share price fell another $0.66 per share, or over 5%, to close at $10.81 per share on February 24, 2020, thereby injuring investors further.
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