Diversified Energy Company PLC (LSE:DEC, NYSE:DEC), in a statement addressing the movements of its share price, said it is aware of a report published by a short seller, which according to the company contains inaccuracies and misrepresents its financial and operational performance.
The report aims to negatively impact DEC’s share price for the benefit of the short seller, the company claimed via its stock market statement.
“This report contains numerous inaccuracies, ignores specific financial and operational results and sustainability actions, and is designed for the sole purpose of negatively impacting the company's share price for the short seller's own benefit,” DEC stated.
The company added: “[DEC] continues to focus on delivering long-term shareholder value, prioritization of outstanding debt reduction, and evaluating strategic growth and accretive value-additive opportunities.
“Diversified is an important part of the solution amid the energy transition to consolidate, and retire existing US energy infrastructure assets, drive economic growth and deliver emission reductions, and remains committed to the responsible ownership and operation of our assets.”
DEC is slated to release a year-end trading statement by 31 January.