Positions that benefit from a stock decline amount to 14 percent of Wirecard’s freely traded shares, according to data compiled by IHS Markit.

The high proportion of stock-drop bets on Wirecard suggests investors aren’t convinced by the company’s declaration that findings from an outside probe into accounting issues in Singapore would only have a marginal impact on financial figures.

British hedge fund titan Crispin Odey said in February that the German regulator has opened the door to a potential lawsuit. A Frankfurt court on Friday rejected an emergency lawsuit by an investor challenging the ban.