BERLIN (Reuters) -Shares in medical equipment maker Gerresheimer plunged as much as 38% on Wednesday after Germany’s financial regulator said it was investigating suspected accounting rule violations.

Watchdog BaFin said it would review Gerresheimer’s financial statements as of November 30, 2024, adding the company may have recognised revenue for some contracts with customers before the revenue was actually realised.

The shares were down 20% at 0919 GMT, their lowest in 13 years.

Gerresheimer said in a statement that the revenues under review, which were recognised under so-called bill-and-hold agreements in fiscal year 2024, amounted to a “low double-digit million amount”.

It said overall revenues in fiscal 2024 were 2.04 billion euros ($2.40 billion) and that it believed that results

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