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UK wealth manager Rathbone says online allegations are baseless

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UK wealth manager Rathbone says online allegations are baseless

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(Reuters) – Rathbone Brothers <RAT.L>, the wealth manager that this month ended its pursuit of rival Smith & Williamson, said its share price fall on Friday had coincided with anonymous allegations made in an online discussion forum. The FTSE 250 company, whose shares were down 4.5 percent at 2,524 pence at 1223 GMT, said it was unaware of anything that would give substance to this allegation and that it was taking strong action. “We are alert to the possibility of market abuse,” Rathbone said in a brief statement. Rathbone did not specify what the allegations were or where they were published.

(Reporting by Esha Vaish in Bengaluru and Carolyn Cohn in London; editing by Jason Neely)
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