Eurofins Addresses Muddy Waters Allegations and Outlines Upcoming Actions

Eurofins Scientific SE has released a comprehensive update addressing recent allegations by Muddy Waters, LLC. The company refuted what it described as baseless claims, emphasizing its commitment to transparent communication with stakeholders, including shareholders, bondholders, employees, and customers. In response to accusations concerning related party transactions involving Analytical Bioventures SCA, Eurofins reaffirmed that lease terms have always been assessed at arm’s length by independent experts.

Eurofins also announced an independent audit by Ernst & Young Paris of its cash pooling arrangements and financial statements. This step aims to address concerns raised about its cash accounting practices. Additionally, Eurofins is considering increasing the number of independent directors on its board to further strengthen corporate governance.

CEO Dr. Gilles Martin criticized Muddy Waters for not initiating a dialogue before publishing their reports. He reiterated Eurofins’ focus on clear and transparent communication, ensuring that all reliable information is shared through appropriate channels.