Adler Extends Probe, Says It Hasn’t Refuted Key Allegations (1)

Adler Group SA said a forensic review of allegations against the German landlord by a hedge fund has so far been unable to refute some key claims.

An interim report by KPMG hasn’t been able to gather enough evidence to dismiss claims made by Fraser Perring’s Viceroy Research that Adler engaged in questionable transactions with related parties, according to a statement late Thursday. The company therefore asked KPMG to continue to investigate until March 25.

The report cleared the valuation of Adler’s portfolio of existing homes -- about 40% of which has since been sold -- but disagreed with ...