Eurofins Shares Sink After Firm Targeted by Block’s Muddy Waters

Eurofins Scientific SE plunged the most in more than two decades after the laboratory-testing company was targeted by Carson Block’s Muddy Waters Research.

The shares fell as much as 25% in Paris trading, the steepest intraday decline since August 2003. The tumble wiped about €2.3 billion ($2.5 billion) from Eurofins’s market value after Muddy Waters disclosed a short position and cast doubt on its financial statements, calling it “a company of oddities and contradictions.”

The firm’s reports “could contain material overstatements of profits, cash balances, and other asset values,” the short seller said Monday. Eurofins didn’t respond to a ...