Technoglass Inc.

TGLS

On December 9, 2021, Hindenburg Research released a report, after a “months-long investigation [that] included review of US and Columbian court records, securities filings, corporate registrations, property records, export records and media reports going back decades.” Hindenburg reported that Technoglass executives had prior connections to a notorious Columbian drug cartel, and that Technoglass had engaged in numerous undisclosed related-party transactions with entities owned by family members of the CEO and COO.

Shares of TGLS fell almost 30% in pre-market trading on December 9, 2021.

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