Montrose Environmental Group (MEG) stock plummeted 5.23% during Wednesday's intraday trading session.
The drop came after allegations of violence surrounding MEG's Rempang Eco-City project in Rempang, Indonesia. According to the company, one of its employees was allegedly assaulted and severely injured by armed residents during a patrol on Tuesday night. Over 30 MEG personnel were then deployed early Wednesday to evacuate the injured worker, who was held by residents for several hours before police intervention.
MEG has condemned the violent actions and is urgently calling on the government and law enforcement to investigate the incident and ensure security in the area. The company stated that such violence is a serious violation of the law and emphasized the need for coordination between all stakeholders to prevent similar incidents from occurring in the future.
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