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Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of purchasers of Grifols, S.A. ("Grifols") (NASDAQ:  GRFS) between February 28, 2019 and February 28, 2024.

On January 9, 2024, Gotham City Research issued a report alleging that Grifols manipulated its debt and EBITDA figures to artificially lower its leverage. Following the publication of the report, Grifols's American Depositary Receipts (“ADRs”) fell $2.43, or 27.93%, to close at $8.60 per ADR on January 9, 2024.

Then on February 29, 2024, Grifols announced its Q4 financial results. On the accompanying earnings call, Grifols’s CFO disclosed that free cash flow in 2024 could be zero due to “accounting stuff.”  Following this news, Grifols’s ADRs fell over 30%, to close at $7.51 per ADR on February 29, 2024.

If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP:  Jonathan Naji, Esq. (484) 270-1453 or via e-mail at  

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# of Shares
Price per Share
Principal Amount
Amount Paid
Series or CUSIP
# of Contracts
Price per Contract
Exercise Price
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Did you purchase shares of Grifols, S.A. prior to the Class Period?
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