Partly supported
A material part is supported, but the published wording goes beyond the record.
Grifols said on 21 March 2024 that the CNMV confirmed its financial statements and indebtedness.
The CNMV confirms Grifols' financial statements and indebtedness
- About
- Grifols, S.A.
- Claim made by
- Grifols, S.A., company statement
- Published
- 21 March 2024
- Evidence score
- 86 How it was scored
- Last reviewed
- 25 October 2026
Why this label
The CNMV letter says it found no significant errors in the main financial statements and no current need for a restatementS1. That supports part of the Grifols statement. The same letter records deficiencies that can be considered relevant, in disclosures and in alternative performance measures, and orders further publication within fifteen daysS1. The Grifols statement presents these as areas for improvementS2. Press reporting at the time led with the deficienciesS3. In July 2025 the CNMV fined Grifols over inaccurate data in its 2021 to 2023 financial reports, according to ARA, and Grifols was reported to be appealingS7S8. The headline word confirms goes beyond a review that required corrected disclosures and was followed by a sanction.
Current procedural position
CNMV review concluded 21 March 2024 with disclosure requirementsS1. CNMV sanction resolution of 24 July 2025 reported as under appealS7.
Record supporting the assessment
have not identified significant errors in the quantitative magnitudes of the main financial statements
the CNMV does not currently identify the need to carry out any restatement of Grifols' accounts.
Conflicting or limiting record
deficiencies that can be considered relevant
deficiencias relevantes
providing regulated financial information with inaccurate or untrue data
resolvió una sanción este agosto contra Grifols
Evidence score: 86 of 100
The score grades how well the record establishes this assessment. It is not a score of Grifols, S.A.. Score = source authority + directness + corroboration + procedural accuracy + currency + reproducibility.
| Component | Points | Max | Reason |
|---|---|---|---|
| Source authorityIs the source competent to establish the proposition? | 27 | 30 | The CNMV letter is the regulator's own text. |
| DirectnessDoes the source state the proposition or only discuss adjacent facts? | 18 | 20 | The letter speaks to both errors and deficiencies. |
| CorroborationDo independent records support the same material point? | 12 | 15 | Press, the company and two reports of the 2025 sanction describe the same record. |
| Procedural accuracyDoes the record settle the procedural state the claim describes? | 12 | 15 | The review is concluded. |
| CurrencyHas the record been checked against later developments? | 8 | 10 | Checked against the 2025 sanction. The appeal outcome was not found. |
| ReproducibilityCan a reader locate the passage and repeat the assessment? | 9 | 10 | The letter is public on EDGAR. |
| Total | 86 | 100 |
Timeline
Related cases
- CNMV review of Grifols, S.A. financial informationComisión Nacional del Mercado de Valores. Regulatory. Not published.Stage: Review concluded with disclosure requirements
- No significant errors found, relevant deficiencies found, further disclosures ordered within fifteen daysS1
- CNMV sanction proceeding against Grifols, S.A. and current and former directorsComisión Nacional del Mercado de Valores. Regulatory. Not published.Stage: Sanction resolved on 24 July 2025. Reported as under appeal.
- Fines of about EUR 1.4 million in total for a very serious and a serious infringement, per ARAS7
Responses
- Grifols, S.A., 21 March 2024: Grifols said it was committed to improving and expanding the disclosures in its financial information.S2
Revision history
- Assessment first published with label Partly supported.
Have a record that changes this assessment? See corrections and responses.
Sources
- S1Tier A FORM 6-KComisión Nacional del Mercado de Valores, letter filed by Grifols on SEC Form 6-K. Regulator order. 21 March 2024.CNMV conclusions of its review. Supports no significant errors, relevant deficiencies and the fifteen-day disclosure orders. It does not rule on Gotham's report.
- S3Tier C La CNMV ve «deficiencias relevantes» en las cuentas de GrifolsThe Objective (Lidia Ramírez). Press report. 21 March 2024.Reports the CNMV deficiencies and fifteen-day requirements. It does not report a sanction proceeding.
- S7Tier C €1.4 million fine for Grifols and its executives following Gotham accusationsARA. Press report. 6 August 2025.Reports a CNMV sanction resolution of 24 July 2025, published in the BOE on 6 August 2025, and that Grifols will appeal. The BOE text itself was not read.Link working, checked 25 October 2026
- S8Tier C El 'Batman de Wall Street' tras el ataque a Grifols, citado por la Audiencia NacionalAra (Albert Rigol Baulenas). Press report. 9 October 2025.Corroborates the Audiencia Nacional summons for 26 February 2026 and reports the August 2025 CNMV sanction and a May 2025 New York ruling. It does not report what happened at the hearing.Link working, checked 25 October 2026
- S2Tier B The CNMV confirms Grifols' financial statements and indebtednessGrifols, S.A.. Company statement. 21 March 2024.Company reading of the CNMV review. It frames the deficiencies as areas for improvement.Link working, checked 25 October 2026
Other claims about Grifols, S.A.
- Partly supported80A January 2024 Gotham City Research report, as reported by Bloomberg and Investing.com, said Grifols artificially reduced its reported debt ratio, in part by consolidating BPC Plasma and Haema, units it had sold in 2018.Press report, 9 January 20246 records citedAccounting
- Unresolved47Spain's Anti-Corruption Prosecutor alleges that Gotham City Research and others spread biased and misleading information about Grifols to push down its share price.Press report, 9 October 20253 records citedMarket conduct