Poland’s LPP says police are investigating Hindenburg Research | The Mighty 790 KFGO

WARSAW (Reuters) – Polish police have launched an investigation into possible manipulation of financial instruments by Hindenburg Research, fashion group LPP said on Thursday.

On March 15, LPP’s Warsaw-listed shares plunged 36 percent after a report by Hindenburg Research questioned the sale of its Russian assets in 2022. LPP denied the information published by Hindenburg Research.

Hindenburg Research did not immediately respond to an email request for comment, and Reuters could not confirm the district attorney’s investigation because it took place outside of business hours.

“The company has received a notice of initiation of an investigation into the suspicion of manipulation of financial instruments in the form of shares of the company on March 15, 2024 by persons close to Hindenburg,” LPP said in a statement on Thursday.

It said the investigation concerned “the dissemination of information via the Internet that conveyed or was likely to convey false or misleading signals regarding the actual demand, supply or price of a financial instrument”.

It further said that the investigation had been initiated by the Warsaw Police’s Economic Crimes Department and was being supervised by the District Prosecutor’s Office in Warsaw.

(Reporting by Karol Badohal; Editing by Barbara Lewis)