Worldline Sheds Over $400 Million in Market Value After Reports of Fraud Coverup
French fintech company Worldline WLN -35.05%decrease; red down pointing triangle lost more than $400 million after several media outlets alleged the group covered up fraud by some customers to shield its own revenue.
Worldline shares in Paris slumped nearly 35%, wiping out more than 355 million euros ($412.2 million) in market value, according to FactSet data. The group's market value stood at roughly 944.6 million euros in Wednesday afternoon trade.
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