The Adler Group company, which is traded in Germany, is a real estate giant that operates mainly in the field of renting residential apartments in Germany. It also controls the company
Brack N. V
-1.17%
Base:51,330
opening:51,330
High:51,330
low:47,190
change:3,685,298
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Traded in Israel, after acquiring about 70% of the company’s shares about 4 years ago. Brack stock is now indifferent to events and is down about one percent. It should be noted that the German real estate giant LEG currently owns 34.5% of Brack’s shares, and has a purchase option to purchase up to 97% of the company’s shares.
Today a drama took place around the parent company, when the accountants on behalf of the KMPG firm refused to sign the company’s reports in an unusual move after a loss of $ 1.18 billion was recorded, mostly due to a reduction in the value of assets under development.
According to the accounting firm, the company hid information about several transactions and failures were found in the corporate governance. As a result of the announcement, the members of the board of directors announced their resignation, apart from the recently joined chairman of the board. The company accepted the resignation only from another two months, to ensure continuity.
The drama began several months ago, when the short influencer raised allegations against the company, allegations that the accounting firm KMPG failed to refute and found a series of failures in the management of the company.
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