Over the past few months, Viceroy Research, an investigative financial research group, has released several reports on Hexagon AB, raising serious concerns about the company’s business practices and financial integrity.
Published on July 19, 2023, Viceroy’s report titled “Hexagon AB – Six Sides to Every Story” delves deep into the operations of Hexagon, a company described as a “corporate dictatorship” led by its majority owner and controlling voter, Melker Schörling. The report further alleges that Melker-appointed Chairman & former Hexagon CEO, Ola Rollén, has been front-running Hexagon investments through an investment vehicle that includes Schörling and Hexagon’s top executives as investors.
Viceroy’s research suggests that Hexagon’s management may have committed fraud. The company’s aggressive acquisition strategy, which has remained largely unchanged for over 25 years, is under scrutiny. Viceroy believes that Hexagon’s acquisition growth is intentionally misreported as organic growth. Furthermore, the acquisitions themselves seem to be underperforming on a large scale.
The report also highlights aggressive accounting measures and corporate structure decisions that seem to be merely cosmetic. The lack of transparency and inadequate disclosures, according to Viceroy, appear to be a deliberate attempt to deter critics.
In an attempt to get Hexagon’s perspective on the allegations, PayNews42 reached out to the company for a comment. However, despite the gravity of the claims, Hexagon chose not to respond, leaving many questions unanswered.
Viceroy’s findings have sparked a significant amount of interest and debate in the financial community. The allegations, if proven true, could have severe implications for Hexagon’s reputation and stock value.
It’s essential for investors and stakeholders to approach this information with caution and conduct their due diligence. As with all investigative reports, the claims made by Viceroy are based on their research and interpretation of available data.
In conclusion, the ongoing developments between Viceroy Research and Hexagon AB serve as a reminder of the importance of transparency, ethical business practices, and the role of investigative research in holding corporations accountable.