Gotham City Research Report

On 9 January 2024, a short seller investor issued a report based on speculation and false information regarding Grifols’ accounting and financial information. Although the company’s fundamentals remain sound and unchanged and all financial information was duly reported in the audited financial statements, this action had a significant impact on Grifols’ share price and corporate reputation.

The company is currently working to restore the confidence of markets, shareholders and other stakeholders in six key areas:

  • Communication and collaboration with the Spanish regulator (CNMV).
  • Transparent communication with all our stakeholders: sharing our clear response to the published report through live conference calls and multiple official communications on the company’s website and on the CNMV portal. All press releases are publicly available on Grifols’ website
  • Clear and transparent communication with our teams and employee representatives, including major unions.
  • Reinforced communication with investors, official communications, direct phone calls, video calls and e-mails.
  • The company filed a complaint in the United States District Court for the Southern District of New York against Daniel Yu, Gotham City Research LLC, General Industrial Partners LLP, Cyrus de Weck, and their affiliates to claim for the financial and reputational damages caused to Grifols and their stakeholders as a result of the defendants’ actions.
  • The company established a dedicated working group comprising senior managers from the legal, communications, finance, investor relations and management teams, together with external advisors with expertise in communications.

As a result of the information published by Gotham City Research LLC, in relation to the accounting and financial information of Grifols, S.A. and subsidiaries, the National Securities Market Commission (CNMV), in the exercise of its supervisory powers, has made various requests for information to the Group. The Parent Company has responded to the requirements received, although at the date of preparation of these consolidated financial statements, the supervisory process has not been concluded.

All announcements are publicly available on our website (

SRAAS Share Purchase Agreement

As indicated in note 12 of Consolidated Annual Accounts, Grifols and Haier Group Corporation ("Haier") entered into a Strategic Alliance and Share Purchase Agreement agreement to transfer the 20% shareholding in Shanghai RAAS Blood Products Co., Ltd. to Haier. On 29 February 2024, the period contractually established by the parties in relation to the completion of Haier's confirmatory due diligence has been satisfactorily concluded. Accordingly, the closing of the transaction is subject to obtaining pending ordinary regulatory approvals and the transaction is expected to close during the first half of 2024.