Short seller alleges ‘aggressive' accounting techniques by Ottobock

• Grizzly Research alleges Ottobock's CEO, Hans Georg Nader, has an 'excessively lavish lifestyle' and has taken more money out of the company than it has earned for 15 years.
• The short seller claims Nader pledged all his shares in a margin loan, which could lead to creditors demanding over 2.3 billion euros by 2030.
• Grizzly also highlights Ottobock's significant dependence on its Russia business (over 30% of net income) and 'aggressive capitalization' of R&D expenses.
• Ottobock rejects the report's claims, but its shares fell over 10% intraday, with Grizzly estimating a fair value of around €30 per share.

Short seller Grizzly Research alleges 'aggressive accounting techniques' and an 'excessively lavish lifestyle' by Ottobock's CEO, Hans Georg Nader. Grizzly claims Nader's margin loan and Ottobock's significant dependence on its Russia business endanger public shareholders. Ottobock categorically rejects the report's statements and overall conclusion, while its stock dropped over 10% intraday.