Temenos shares extend slide after Hindenburg allegations

Shares in Temenos fell more than 9% on Friday, a day after a Hindenburg Research report alleging accounting irregularities wiped off more than a quarter of the Swiss software company's market value. Temenos said its board of directors rejected the report published by Hindenburg and that it was confident in the strength of its business, performance and cash position. The Swiss company said the Hindenburg report contained factual inaccuracies and analytical errors, as well as false and misleading allegations, which it stated were "intended to adversely impact the company's share price".