Rathbone Brothers denies online allegations
Wealth manager Rathbone Brothers said the slump in its share price earlier on Friday coincided with anonymous allegations made in an online discussion forum.
Financial Services
14,644.56
17:14 07/05/24
1.57%
225.77
FTSE 250
20,413.08
17:14 07/05/24
n/a
n/a
FTSE 350
4,570.66
17:14 07/05/24
n/a
n/a
FTSE All-Share
4,522.99
16:54 07/05/24
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Rathbones Group
1,760.00p
16:40 07/05/24
2.92%
50.00p
"We are not aware of anything that would give substance to this allegation and are taking strong action," the company said, adding that it was alert to the possibility of market abuse.
Rathbone - which ended discussions to acquire rival Smith & Williamson earlier this month - did not say what the allegations were or which forum they were posted on.
At 1400 BST, the shares were down 7.5% to 2,451p.