Topline Securities Disowns Misattributed Social Media Article on Dewan Farooque Motors

Karachi: Topline Securities, a prominent player in the Pakistani financial sector, has issued a clear denial regarding a document that has been circulating on social media platforms, purporting to be an analysis from the firm about Dewan Farooque Motors Limited (DFML). This document, titled “The Dewan Farooque Motors Limited (DFML) – Key Takeaways,” has appeared on various social media channels and WhatsApp groups, featuring the company’s logo and branding as if published by Topline Securities itself.

The misleading one-pager has sparked concerns of potential market manipulation, prompting Topline Securities to respond formally. Upon inquiry, representatives from Topline Securities confirmed that the company had neither authored nor disseminated any such analysis or article related to DFML. The firm emphasized that no information had been shared with them or any third parties that could have led to the creation of the said article.

In a statement issued today, Topline Securities alerted its stakeholders and the broader market community, urging them to verify the authenticity of any such publications through direct communication with the company before making any investment decisions. This step is seen as crucial in preventing any unwarranted influence on stock prices that could stem from unauthorized use of the company’s name or misrepresentation of its analyses.

According to information available from the Pakistan Stock Exchange (PSX), the company also advised TRE Certificate Holders to remain vigilant and take necessary steps to identify the individuals involved in the creation and distribution of the fraudulent document.

Topline Securities reaffirmed its commitment to transparency and regulatory compliance, noting that any material information that needs to be disclosed to stakeholders will be released in accordance with PSX regulations at the appropriate time.

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