We are investigating Mettler-Toledo International Inc. (MTD) (“Mettler-Toledo” or the “Company”) for potential violations of the federal securities laws.
On July 24, 2019, Spruce Point Management (“Spruce Point”) issued a report on Mettler-Toledo titled “Imprecise Earnings.” The Spruce Point report asserted, in part, that the Company’s “ability to never miss quarterly Wall St earnings estimates raises doubts about the quality of its financial statements.” Spruce Point characterized Mettler-Toledo as “[r]un by secretive management in Switzerland, and with key U.S.-based financial, tax, and audit managers all having worked at current auditor PwC,” and on this basis asserted that “adequate, independent questioning of its financial results are lacking.” Following publication of the Spruce Point report, Mettler-Toledo’s stock price fell sharply during intra-day trading on July 24, 2019.