09:32 AM EDT, 03/22/2024 (MT Newswires) -- Grifols' ( GRFS ) financial reports did not have any significant errors, although these contained deficiencies, Spain's National Securities Market Commission said Thursday in response to a report from short seller Gotham City Research.

There was also no evidence that Grifols ( GRFS ) underreported its leverage as Gotham had alleged, according to the regulator, which reviewed Grifols' ( GRFS ) financial statements. The Gotham report accused the company of deceptive accounting.

The regulator said it found deficiencies related to the EBITDA and debt-to-EBITDA ratios as well as the detail and accuracy of the breakdowns and explanatory notes in some years.

The regulator gave Grifols ( GRFS ) 15 days to publish its commitments to adapt the use of APMs in the next financial reports, as well as a breakdown of its EBITDA and net financial debt for relevant companies where it has non-controlling stakes.

Grifols ( GRFS ) disclosed the regulator's report in a filing Friday.

Shares of the company were down nearly 10% just after the opening bell Friday.

Price: 6.12, Change: -0.66, Percent Change: -9.74