Dhe price slump in the shares of Lang & Schwarz continued on Monday at a discount of up to 9 percent. With a price of 73 euros at times, the broker’s securities fell back to the level of the first days of January after reaching a record high of 150.50 euros in February. Later in the afternoon, the financial services company’s share lost a good 6 percent to 75 euros. Since last Tuesday, the price has fallen by a good 40 percent.
The price slide was triggered by the short-term postponement of the general meeting on late Tuesday evening, which was actually planned two days later on Thursday. The reason for this was the receipt of an interim report from the Düsseldorf tax office for the financial years 2008 to 2009. The next day the share temporarily lost a third of its value.
The tax office for criminal tax matters and tax investigations checks the financial years 2007 to 2011 with a view to capital gains tax credits and solidarity surcharges for shares around dividend dates (cum-ex transactions). The board of directors fears that earnings will be negatively impacted by 61 million euros and has set up a provision of 45 million euros.
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