MADRID (Reuters) - Spanish wireless network provider Gowex said late on Thursday it would present an action plan on Monday in relation to a report from Gotham City Research LLC which questioned the company’s revenue reporting.
Spain’s alternative stock exchange, the MAB by its initials in Spanish, had requested the company make public as soon as possible an action plan in relation to the report which wiped about 60 percent off the value of the shares over two days.
Shares in Gowex had been suspended earlier on Thursday from the MAB pending a statement from the company.
Spain’ stock market regulator said on Wednesday it had asked the U.S. Securities and Exchange Commission (SEC) and the UK’s Financial Conduct Authority (FCA) to provide information about Gotham City Research LLC and its administrators to investigate whether the publication of the report could constitute a market abuse.
Reporting By Sonya Dowsett; Editing by David Gregorio