initial public offerings (IPOs) trading on American exchanges

Thursday, December 26, 2013

Textura (TXTR) shares plunge after fraud allegations

Deerfield, Illinois-based construction-software maker Textura Corp., which had one of the year's top IPOs, has been accused of lying to the SEC by short-seller Citron Research.

Textura shares slide nearly 17 percent on the report, closing at $31.43.

In a statement, Textura responded, "(We) find this report to include a variety of inaccurate and misleading statements and gross distortions. Textura completely rejects any allegation of fraud, collusion or deception in Textura's IPO or SEC filings."

"Textura encourages investors to rely on Textura's filings with the SEC as providing accurate information regarding the company and its performance, and not to rely on reports which may have purposes other than giving investors accurate information and impartial analysis," the statement continued.

No comments:

Post a Comment