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HEALTHCARE: Eurofins (ERFFP: Baa3/BBB-): Letter From Muddy Waters

HEALTHCARE

MW has released an open letter to Dr Gilles Martin requesting:

  • Criticises the Audit process as the company has thousands of bank accounts
  • Employees be freed from Non-Disclosure Agreements (except where commercial secrecy requires it) so that they can speak openly about the running of the company
  • Labormar acquisition yesterday was devoid of detail
  • File overdue accounts for Analytical Bioventures
  • Generally wants more granular detail on acquisitions and a breakdown of the business by geography
  • More granular detail on each property owned by Dr G. Martin - rent paid, lease terms, etc

Eurofins fell yesterday but then so did the CAC40 post elections which MW fail to mention.

Link to Letter

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