December 18, 2018 / 8:40 AM / a month ago

BUZZ-Telit: Regulator expands scope of investigation

** Internet of things company’s shares down 11 pct after Britain’s financial regulator expanded the scope of an ongoing investigation

** UK’s FCA to consider the accuracy of some earlier announcements by Telit, including a trading update and one on placing

** FCA said in March it would investigate Telit’s timeliness of announcing some matters included in its interim results published on Aug. 7 August

** Telit said it was cooperating fully with the FCA

** Says co’s board has changed entirely since the events coming under FCA investigation purview

** Shares among top losers on the LSE

** Stock down 28 pct since Telit announced FCA investigation in March (Reporting by Arathy S Nair in Bengaluru)

0 : 0
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