On Friday, VusionGroup denounced an attempt to manipulate its share price, following the dissemination of incriminating information on X (formerly Twitter).

On its X account, short-selling specialist Gotham City Research - which had already attacked the electronic labelling group for the retail sector last year - relayed an accusatory message published by Matthew Earl, the giant of a British hedge fund also specializing in short selling.

In his message, Matthew Earl, without mentioning VusionGroup by name, refers to the group's commercial relations with its supplier and main shareholder, which he also does not name.

He also claims that Vusion's CEO and CFO have sold a combined total of 10 million euros worth of shares on the market in recent weeks.

VusionGroup reacted by sending an e-mail to Cercle Finance: "The tweet is confusing as it does not name any company, and aims to reopen the closed chapter of an attack we suffered last year".

The company considers these allegations to be unfounded, as the communication to which Matthew Earl refers concerns the Taiwanese company E Ink, one of its partners, and not its reference shareholder, the Chinese BOE.

We seem to be witnessing a new form of price manipulation", adds Vusion, pointing out that insider trading is punishable by law.

Following this reaction, VusionGroup shares limited their losses on the Paris Bourse on Friday, shedding just 8% after having fallen by more than 16% at the start of the session.

The share had lost almost half its value last year at the time of the first Gotham City attacks.

Copyright (c) 2024 CercleFinance.com. All rights reserved.