German financial watchdog checks Tipp24 disclosures

FRANKFURT/DUESSELDORF, Sept 2 Tue Sep 2, 2014 4:04am EDT

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FRANKFURT/DUESSELDORF, Sept 2 (Reuters) - German financial watchdog Bafin on Tuesday said it is checking the circumstances behind Tipp24 regulatory disclosures for possible violation of market rules.

The Internet lottery company issued a profit warning based on a reported jackpot on Sunday only to withdraw the warning on Monday, saying the reported jackpot win had been mistaken.

"We are taking a look to see if market manipulation may have been involved," a Bafin spokeswoman said.

A Tipp24 spokesman said the Bafin probe was routine and the company was not concerned by the development. (Reporting by Jonathan Gould and Anneli Palmen; Editing by Christoph Steitz)

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