(Bloomberg) -- MTY Food Group Inc., the owner of frozen-yogurt chain Pinkberry, said that it will delay the release of its quarterly results after a whistleblower employee filed a complaint about the company.

The St. Laurent, Quebec-based franchiser, was scheduled to report its fourth-quarter earnings on Feb. 18. While MTY provided no other information on the complaint, it said that the allegations “are baseless and frivolous,” according to a statement Friday. The earnings results are still expected within the regulatory deadline.

The board of directors is taking “the required amount of time to address the matter in the appropriate manner.”

Shares of MTY have slumped 2.7% over the past two days ahead of the company’s statement. It has climbed 7.6% this year versus S&P/TSX, which is up 4.4%.

MTY owns and operates restaurants and is one of the largest franchisers in North America. Besides Pinkberry, it operates ice-cream provider Cold Stone Creamery and Canadian fast-food outlet Mr. Sub.

To contact the reporter on this story: Aoyon Ashraf in Toronto at aashraf7@bloomberg.net

To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Divya Balji, Rita Nazareth

©2020 Bloomberg L.P.