(Reuters) – French operator of care homes Orpea has rejected claims that residents were mistreated in a book. This was after excerpts from newspaper Le Monde sent Orpea’s shares tumbling.

The article featured extracts of “Les Fossoyeurs,” a 388-page publication by Victor Castanet. The book alleges poor treatment for the elderly residents living at a location outside Paris.

In a statement, the company claimed that they had officially rejected “all of these allegations”, which it considered false, absurd, and prejudicial.

The company stated that it had already spoken to its lawyers and taken all steps necessary, including taking legal action.

Orpea and French rival Korian are two of Europe’s most important for-profit care homes operators. They have a total of 1,156 facies, more than 90,000. beds, in 23 different countries, spanning Europe and Asia.

As the group continues to grow, it added over 1000 beds in its third quarter of last year. It also plans to boost its revenues by over 14%, to more than 4.2 billion euro ($4.74 trillion) this year.

Paris’ stock exchange suspended trading on Orpea’s request at 1145 GMT. This was in anticipation of the release of the statement. Shares of Korian plunged more than 10% and the stock fell 16% toward its worst ever single-day performance.

Paris-based Fayard will publish “Les Fossoyeurs”, and it goes on sale next Wednesday, January 26.

($1 = 0.8855 euros)