Northern Data Drops 43% After German Regulator Files Complaint

Oct 1, 2021


(Bloomberg) -- Northern Data AG fell as much as 42.5% after the German financial regulator filed a complaint with Frankfurt prosecutors asking them to investigate people at the company for market manipulation.

Bafin confirmed the filing but declined to provide any details as the case is now in the hands of investigators. A spokeswoman for Frankfurt prosecutors said she can’t immediately comment. Wirtschaftswoche reported the Bafin complaint earlier on Friday. 

The shares traded down 25.3% by 4.49 p.m. in Frankfurt.   

Northern Data didn’t immediately reply to emails and a voicemail message seeking comment. The information technology company provides solutions for crypto-currency and Bitcoin blockchain infrastructures. 

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