(News Bulletin 247) – The specialist in electronic labels suffered the biggest drop in the SBF 120 this Friday, after an attack from a hedge fund accusing it of accounting irregularities.

Rough weekend for Vusiongroup. The title of the label specialist plunges another 10% after even dropping more than 16.6% during the morning.

The violent decline in the title of the former SES-imagotag should be put into perspective with an attack by the speculative fund Shadowfall, which accuses the French company of accounting irregularities, according to press information reported by the Dow Jones agency.

On the social network en Bourse was accused last year of accounting irregularities with its shareholder and supplier.

He also claims that the managing director and the financial director of this company collectively sold 10 million euros worth of shares. “Certainly, I am not an expert on the subject, but in my opinion, this is the most obvious fraud in Europe at the moment,” Matthew Earl also indicated in a post on X.

A tweet “which sows confusion”

Neither one nor two, the rapprochement was made with Vusiongroup, which had been attacked in June last year on these same grievances. The salvo this time came from Gotham City, which had accused the company specializing in smart labels of artificially increasing its revenues and results.

“The tweet sows confusion by not naming any company, and aims to reopen the closed chapter of an attack to which we were victims last year,” a Vusiongroup spokesperson told News Bulletin 247.

The electronic label specialist criticizes this “new market manipulation”, which according to her is “totally unfounded” insofar as “the communication to which reference is made concerns the Taiwanese company E Ink, and not the Chinese company BOE “

“A short seller relies on the financial communication of one of our partners, without explicitly mentioning it, to create a link with old allegations from Gotham city, firmly denied by the company which demonstrated their false nature and deliberately misleading”, adds Vusiongroup to News Bulletin 247.

On the Paris Stock Exchange, the stock plunged 58.27% on June 23, 2023, the day after the publication of the vitriolic note from Gotham City.

Management then immediately stepped up and published several responses to the allegations made by Gotham City Research.

Moreover, Vusiongroup mentions this episode in its communication today to News Bulletin 247: “a short seller had orchestrated a manipulation of the stock price on the basis of false and misleading allegations. Unfounded, these have all been entirely were refuted. We responded to all the points, clearly and transparently. The company also recalls in this regard “that these were insider transactions, punishable by law, and attempted market manipulation”.

These multiple communications aimed at restoring the reputation of ex-SES-imagotag have also convinced the market. The stock even reached a historic high of 175.10 euros a few days ago, galvanized by the extension of its partnership with the American distribution giant Walmart.

Ironically, Vusiongroup shares were trading close to 170 euros on the Paris Stock Exchange before the attack on Gotham City Research in June 2023.