GRFS Investigation Reminder: Kessler Topaz Meltzer & Check, LLP Encourages Grifols S.A. (GRFS) Investors to Contact the Firm

Radnor, Pennsylvania--(Newsfile Corp. - March 11, 2024) - The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of Grifols S.A. (NASDAQ: GRFS) ("Grifols").

On January 9, 2024, Gotham City Research issued a report alleging that Grifols manipulated its debt and EBITDA figures to artificially lower its leverage. Following the publication of the report, Grifols's American Depositary Receipts ("ADRs") fell $2.43, or 27.93%, to close at $8.60 per ADR on January 9, 2024.

Then on February 29, 2024, Grifols announced its Q4 financial results. On the accompanying earnings call, Grifols's CFO disclosed that free cash flow in 2024 could be zero due to "accounting stuff." Following this news, Grifols's ADRs fell over 30%, to close at $7.51 per ADR on February 29, 2024.

On March 6, 2024, Gotham City Research issued another report further questioning Grifols's financial accounts and its "transparency, integrity and ethical conduct." Specifically, the report alleged that Grifols had muddled the nature of a 319-million-euro ($346.6 million) loan in its 2022 annual report and that Grifols "selectively disclosed new information" to analysts, but not to the wider public, about its balance sheets. Following this news, Grifols's ADRs fell nearly 15%, to close at $5.47 per share on March 6, 2024.

If you are a Grifols investor and would like to learn more about our investigation, please CLICK HERE to fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at info@ktmc.com. You can also click on the following link or paste it in your browser: https://www.ktmc.com/grifols-sa-investigation?utm_source=PR&utm_medium=link&utm_campaign=grfs&mktm=r

Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
280 King of Prussia Road
Radnor, PA 19087
(484) 270-1453
info@ktmc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/201335