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Investing.com -- Worldline SA (EPA:WLN)’s Chief Executive Officer Pierre-Antoine Vacheron has defended his company against what he described as an "orchestrated media campaign" that he believes caused the firm’s sharp share decline.
During an analyst call held Wednesday, Vacheron claimed the company had been "attacked" by the media. He insisted that "there’s nothing new" in recent media reports about the company, adding that the only new element was what he termed an "unacceptable narrative."
The CEO’s comments came after Worldline shares plummeted 38% on Wednesday, with trading halted multiple times throughout the day.
The stock collapse followed the publication of a coordinated series of articles by the European journalism network EIC. These reports alleged that Worldline, which positions itself as Europe’s largest payment processor, had ignored warnings and continued business relationships with prohibited and high-risk customers in recent years. The articles claimed this effectively allowed some fraudulent transactions to continue.
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