Temenos AG, a Swiss banking software company is the latest to attract scrutiny from Hindenburg Research, a New York-based investment research firm that has achieved notoriety for its exposure of publicly-listed firms that engage in unethical or fraudulent business practices.

On 15 February Hindenburg published a report on Temenos based on a four month investigation into the firm. This involved interviews with 25 employees, including “senior leaders” at the company and uncovered ...