|Company Name||Tecnoglass Inc.|
On December 9, 2021, Hindenburg Research published a report in which it stated that Tecnoglass had been the subject of a months-long investigation that included review of US and Colombian court records, securities filings, corporate registrations, property records, export records and media reports going back decades. The report alleged that “serious red flags” had been identified regarding “management and numerous undisclosed related party transactions that call the company’s reported financial results into question.”
On this news, Tecnoglass stock fell $12.14, or 36%, to close at $21.56 per share on December 9, 2021, thereby injuring investors.
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