Deloitte and Grant Thornton sued in France over Atos accounts in IVO-backed shareholder claim

A group of nearly 700 current and former worldwide shareholders of Atos have filed a securities class action in France against the company’s longtime auditors, Deloitte and Grant Thornton, alleging years of misleading financial reporting that obscured the company’s deteriorating position. The litigation follows a prolonged period of financial turbulence at Atos, once regarded as a flagship of the French technology sector. The company accumulated substantial debt in the years preceding its financial restructuring, which concluded at the end of 2024 and resulted in significant dilution for legacy shareholders.

The claim, brought by Paris-based law firm Vermeille & Co, accuses the audit firms of certifying consolidated financial statements between 2017 and 2022 that failed to reflect the group’s true economic and financial reality. The plaintiffs contend that those certifications concealed material weaknesses and delayed market recognition of Atos’ mounting financial strain, contributing to investor losses.

The case is being funded by IVO Capital Partners, marking one of the more prominent examples of third-party litigation funding in a French securities dispute tied to a former CAC 40 issuer. The funding arrangement underscores the growing role of specialist capital providers in underwriting complex, multi-claimant actions in continental Europe.

According to the filing, the shareholders allege “serious faults and negligence” in the auditors’ statutory duties, including the publication of inaccurate and misleading accounts that did not faithfully represent the company’s financial position over a five-year period. The claim seeks individualized compensation for affected investors, with total damages estimated at approximately €40 million.

Sophie Vermeille, founder of law firm Vermeille & Co, who is representing existing and previous shareholders of Atos, said: “We are seeking compensation for shareholders of Atos from the company’s auditors, Deloitte and Grant Thornton, who certified inaccurate and misleading accounts over several years that failed to reflect the true financial position of the company and caused shareholders to suffer substantial financial losses. This legal action is being funded by IVO Capital Partners.”

Further information can be found HERE.