Muddy Waters is short Eurofins Scientific SE (ERF.FP) because the confusion and contradictions inherent in its financials and operations cause us to believe that it is optimized for malfeasance, rather than for conventional business.  At best, Eurofins has a parasitic controlling shareholder who has been siphoning money from the company for two decades.  Our view, however, is that Eurofins’ financials could contain material overstatements of profits, cash balances, and other asset values.

More ... latest change: 2025-04-03

https://muddywatersresearch.com/research/erf-fp/nothing-but-net/