Marex Says It Rebuts All Allegations From Short Seller Report

Broker Marex Group Plc refuted claims by Ningi Research about the quality of its financial reporting and said the allegations aren’t materially affecting its business.

Ningi this month posted on social media that it was short Marex, criticizing the firm’s accounting practices. Marex hit back Wednesday, saying it doesn’t have any off-balance-sheet entities and disputing other elements of Ningi’s claim, including the significance of a Luxembourg-based entity to the business.

“We have analyzed the report thoroughly and can rebut all of the allegations,” Chief Executive Officer Ian Lowitt said on an earnings call. “We examined the allegations on a ...