LONDON : British cyber security company Darktrace said on Monday it had commissioned a third-party review of its finances by EY, weeks after a short-seller questioned its results. Darktrace said the appointment of the auditor EY, formerly known as Ernst & Young, was a sign of its confidence in its financi
LONDON : British cyber security company Darktrace said on Monday it had commissioned a third-party review of its finances by EY, weeks after a short-seller questioned its results.
Those were criticised by New York-based Quintessential Capital Management in a 70-page report on Jan. 31. The group said it was"deeply skeptical about the validity of Darktrace's financial statements," prompting Darktrace to issue a rebuttal. The company, which was listed in April 2021, is backed by Mike Lynch, the British tech entrepreneur who was ruled by a British judge to have masterminded an elaborate fraud when he sold his company Autonomy in 2011. Lynch had denied the charges.
Darktrace said in its statement on Monday that it was appropriate for a third party review to confirm the company's financial position.
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