-Germany's financial regulator Bafin on Wednesday said it had initiated an audit of German packaging and medical equipment maker Gerresheimer's consolidated financial statements as of November 30,
Gerresheimer Stock Plummets Amid Investigation of Accounting Issues
BERLIN (Reuters) -Shares in medical equipment maker Gerresheimer's plunged more than 37% on Wednesday after Germany's financial regulator said it had initiated an investigation into suspected accounting rule violations.
Watchdog Bafin said it would review Gerresheimer's consolidated financial statements as of November 30, 2024, adding the company may have recognized revenue for some contracts with customers before the revenue was actually realised.
The audit, looking into "specific" possible violations, includes the related management report, Bafin said in the statement.
Gerresheimer did not immediately respond to an emailed request for comment.
(Reporting by Bernadette Hogg and Ludwig Burger, editing by Kirsti Knolle)
