Tecnoglass Stock News

SAN FRANCISCO, Dec. 10, 2021 /PRNewswire/ -- Hagens Berman urges Tecnoglass Inc. (NASDAQ: TGLS) investors with significant losses to submit your losses now. The firm is investigating possible securities law violations. Visit: www.hbsslaw.com/investor-fraud/TGLS Contact An Attorney Now:

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- Revenues of $ 456 Million and Adjusted EBITDA of $ 140 Million Year t o Date Through November 2021

Shares of Tecnoglass Inc. plummeted over 40% on Thursday, December 9, 2021, after Hindenburg Research published a scathing report claiming that the glass and aluminum company has a history of numerous undisclosed related party transactions, and has faked a significant portion of its revenue. Gibbs Law Group is investigating a potential Tecnoglass Class Action Lawsuit on behalf of investors who lost

The $1 billion Florida-focused company''s stock has been among the best performing this year, up nearly 390 percent.

Tecnoglass shares plunged after noted short-selling group Hindenburg Research issued a report that cited "serious red flags" at the Florida-focused glassmaker.

Tecnoglass Plunges As Hindenburg Alleges Accounting Irregularities, Cartel Connections, Undisclosed Deals Shares of Tecnoglass fell in pre-market trading on Thursday morning after short seller Hindenburg Research alleged that the company had "cartel connections", "undisclosed family deals" and "accounting irregularities". "We have identified serious red flags regarding management and numerous undisclosed related party transactions that call the companys reported financial results into question," Hindenburg wrote on Thursday morning. In their report, the activist short seller wrote that they "strongly suspect" that Tecnoglass "has faked a significant portion of its revenue." The report says: "All told, we have no faith in the companys financials given managements background and the irregularities we have uncovered. We encourage its auditor to do a full review of its customer transactions and outstanding balances." Hindenburg says its "months-long investigation" included a "review of US and Colombian court records, securities filings, corporate registrations, property records, export records and media reports going back decades." The report also ties Tecnoglass to the Cali Cartel: "Following the crackdown on the Cali cartel, family members of individuals responsible for laundering money for a successor cocaine trafficking cartel known for its death squad appear as key early shareholders in Tecnoglass and the Daes related manufacturing business.

Tecnoglass is a Colombia-based producer of glass for residential and commercial buildings founded in 1984 by two brothers, Jose Daes and Christian Daes, who currently both serve as directors and CE

Shares of TGLS stock are down over 40% after Hindenburg released a scorching short report on the glass-maker. Here's what you need to know.

Tecnoglass Inc (NASDAQ: TGLS) shares are trading lower after Hindenburg Research issued a bearish report on the company. In the report, Hindenburg Research notes: "Our months-long investigation has in

ACI, HHR, TGLS, and SIG made it to the Zacks Rank #1 (Strong Buy) growth stocks list on December 9, 2021

- Increase d Return to Shareholders Highlights 2021 Record Free Cashflow Year to Date and Strong Balance Sheet Position -