French nursing home company Orpea resumes trading in markets and presents new plan

PARIS, Oct. 26 (Reuters) – French care home company Orpea (ORP.PA), hit by allegations of malpractice in its French retirement homes, said it would resume trading in financial markets on Wednesday and announce a new strategy plan next month .

The French AMF market regulator had suspended trading of stocks and bonds in Orpea earlier this week.

Orpea said in June that an independent audit found evidence of financial misconduct, including excessive labor costs and suspiciously high third-party payments, but did not support all allegations against the company by “Les Fossoyeurs” (The Gravediggers), a book by independent journalist Victor Castanet published earlier this year.

Reporting by Sudip Kar-Gupta; Editing by Muralikumar Anantharaman

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