Global law firm White & Case LLP, with support from Alvarez & Marsal, has performed an independent investigation into fraud allegations raised in media reports and by certain short sellers regarding Nagarro's corporate practices.
The investigation's findings refuted the short sellers' allegations. No evidence of fraud, misconduct or intentional wrongdoing by Nagarro or its management was identified. The process did highlight certain structural, governance and documentation areas for enhancement. Nagarro is implementing the findings and recommendations as part of its broader governance enhancement program.
White & Case's conclusions are based on an extensive review of corporate and accounting documents, interviews with key Nagarro personnel across functions and geographies, database and background checks and a comprehensive forensic electronic review of relevant records conducted over the past several months, assisted by cutting edge AI tools.
Germany-headquartered Nagarro is a global digital engineering company listed on the Frankfurt Stock Exchange. It serves clients worldwide with digital engineering and technology solutions.
The White & Case team was led by partners Daniel Zapf and Alexander Kiefner (both Frankfurt) and included partners Detlev Gabel (Frankfurt) and Aditya Singh (Singapore), local partners Timo Lockemann, Alisa Preissler, Nicolas Bechtold and Jochen Hoerth (all Frankfurt) and associates Joline Kuhn, Thomas Kolb, Leon Hoffeller and Jonas Huber (all Frankfurt) and transaction lawyer Eva Volk (Frankfurt).
Press contact
For more information please speak to your local media contact.
