(News Bulletin 247) – Atos has lost half of its value since the end of July, and the publication of its half-year accounts. Denouncing the financial communication of the IT group, several shareholders intend to file a complaint against the management of Atos.

On the Paris Stock Exchange, Atos rose another 2.3%, taking advantage of the good mood displayed by the Paris market before the US inflation figures. The title had however started trading down sharply by 2.8%, to return to its lowest level since February 1993 at 6.94 euros, while a hundred small holders plan to take legal action against its leader Bertrand Meunier, according to information from BFM Business.

Is that the cup is full for the shareholders of Atos. Their patience has been sorely tested in recent years, between crisis of governance and heavy losses. Atos stock market history illustrates these many difficulties. The digital services company is struggling with a stock market price that has fallen by more than 90% over three years.

Shareholders are fighting back

And the climate of mistrust has gone up a notch in recent weeks. At the end of July, the IT group had published highly degraded accounts, marked in particular by high consumption of cash. However, Atos had held a reassuring speech on the recovery of the group during the general assembly of the group of June 28. “But only two days later, [Atos] closed the accounts with a very significant consumption of cash”, moved Hervé Lecesne, a shareholder who personally owns 1% of the capital of Atos.

The announcements had then led to the heavy fall of the title the following days. At current prices, the action is twice lower than the 14.58 euros posted the day before the announcement of the half-year results.

Too much is too much for a hundred small holders who plan to take legal action against its leader Bertrand Meunier. Considering themselves cheated on the group’s financial communication, Hervé Lecesne and other unitholders have therefore planned to join forces. An association with a very evocative name: “Union of Angry Atos Shareholders”, will soon be created with a view to leading the fight, this time on the judicial field. “We are thinking with our lawyers about filing a complaint that would target the group’s financial communication”, explains the latter.

These shareholders also point to the favorable conditions granted by Atos to Daniel Kretinsky for the Czech businessman to buy the historical IT services branch of the French group.