Spanish market supervisor says it makes no sense to query Grifols accounts

MADRID (Reuters) – The head of the Spanish CNMV stock market supervisor Rodrigo Buenaventura said it made no sense to question the integrity of the audited accounts of drugmaker Grifols or to ignore a report on Tuesday by Gotham City Research which did so.

“It makes no sense to question the integrity of Grifols’ audited accounts or to ignore the information published this morning,” Buenaventura told a financial event, a spokesperson for the CNMV confirmed.

Gotham City Research issued a report on Tuesday questioning Grifols’ accounting, prompting a sharp fall in its shares.

Grifols has denied any wrongdoing.

“The CNMV is going to exercise its powers to clarify the situation,” Buenaventura went on to say.

“We have a report from a firm that makes a series of very serious accusations about Grifols’ financial information, which has had a significant impact on the company’s prices, and the company has made a generic denial of this information.

“What we at the CNMV have to do is gather additional information to clarify the situation and see which aspects of the information need to be reviewed or analysed,” he added.

(Reporting by Jesús Aguado; Editing by Inti Landauro and Alexander Smith)