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Grifols to seek compensation from Gotham at least equivalent to share loss - board member

Published 10/01/2024, 11:53
Updated 10/01/2024, 11:55
© Reuters. The logo of the Spanish pharmaceuticals company Grifols is pictured on theirs facilities in Parets del Valles, north of Barcelona, Spain, January 9, 2024. REUTERS/Albert Gea
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BARCELONA (Reuters) - Spain's pharmaceutical company Grifols will seek a compensation at least equivalent to the share price loss prompted by short seller Gotham City Research's Tuesday report in the lawsuit it plans to launch, a board member told Reuters on Wednesday.

Board member Tomas Daga, who sits on Grifols' audit committee and has advised it as a lawyer on several acquisitions, did not elaborate on the exact amount of the compensation sought.

Following Gotham's report, Grifols' shares on Tuesday closed 26% lower in Madrid, wiping 2.28 billion euros ($2.49 billion) off the company's market value, though shares traded 42% lower during that day.

© Reuters. The logo of the Spanish pharmaceuticals company Grifols is pictured on theirs facilities in Parets del Valles, north of Barcelona, Spain, January 9, 2024. REUTERS/Albert Gea

The company plans to hold a call with investors on Thursday.

($1 = 0.9140 euros)

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