US Top News and Analysis | Prosthetics firm's stock plunges as it denies short-seller's Russia 'propaganda' allegations

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German prosthetics company Ottobock saw its shares tumble more than 10% after U.S. hedge fund Grizzly Research published a report accusing majority shareholder and board chair Hans Georg Näder of siphoning funds for personal use, financing a lavish lifestyle and “leniently” allowing its products to be used in Russia’s war effort. The report also alleged that Ottobock relied on aggressive “payment‑in‑kind” loans and that over 30% of its net income came from Russian business—far higher than the company’s disclosed figures—while accusing the firm of “aggressive” accounting and exposure to regulatory risk. Ottobock rejected the allegations as unfounded, said it could not comment in detail before its annual general meeting, and promised a fuller response afterward. The controversy comes as the firm, which floated on the Frankfurt Stock Exchange in October 2025 with a €3.8 billion valuation, faces scrutiny over its Russian revenue, which the prospectus listed at under 9% for the first half of 2025.

Read more: https://www.cnbc.com/2026/05/19/ottobock-grizzly-russia-ukraine-propaganda-prosthetics.html

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