Swiss Six exchange opens probe into Clariant whistleblower case

SWITZERLAND’S Six stock exchange on Thursday (Jan 12) opened an investigation into Clariant over the possible disclosure of price-sensitive information, following whistleblowers’ allegations that some staff had manipulated accounts.

Six said in a statement that it was investigating whether a breach of regulations had occurred.

A spokesperson for the specialty chemical company said the investigation related to a delay in publishing its 2021 results, due to an investigation into the accounting of some provisions and accruals.

In February, Clariant delayed the release of 2021 results as independent advisors looked into the allegations that some staff manipulated accounts in 2020 and 2021 to help meet financial targets.

In April that investigation concluded that there had been no impact on sales and cash numbers previously reported, it said.

It also said that restated and preliminary 2020 financial statements implied a continuing operations Ebitda margin of 15.5 per cent versus the 15.0 per cent previously reported, while its preliminary 2021 Ebitda margin of 16.2 per cent was in line with previous guidance. REUTERS