31st Jan 2023 15:53
Darktrace PLC - Cambridge, England-based cybersecurity business - Notes that Quintessential Capital Management announced a 0.86% short position in relation to Darktrace. Says it was never contacted by authors of the report for information. Darktrace says: "We have never been contacted by the authors of this report for information. As a UK listed business, our management team and board take our fiduciary responsibilities very seriously and have full confidence in our accounting practices and the integrity of our independently audited financial statements. We have rigorous controls in place across our business to ensure we comply fully with IFRS accounting standards. We're proud of the business we have built, which today helps to protect over 8,100 customers around the world from cyber disruption."
Quintessential on Tuesday published a 69-page long report, criticising Darktrace's management and operations and issuing warnings "about the gravity of the situation". Back in May 2022, the Telegraph reported that Darktrace's strategy chief was part of a group of executives who helped to misrepresent the success of software company Autonomy, which was acquired by Hewlett-Packard in 2011.
Current stock price: 209.70 pence, down 4.9% on Tuesday
12-month change: down 49%
By Tom Budszus, Alliance News reporter
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