(Reuters) – Italian bio-plastics company Bio-on denied allegations of accounting irregularities by U.S. hedge fund Quintessential Capital Management, saying it was considering legal action against the fund. Bio-on shares were suspended from trading for excessive volatility and were indicated down 10.3% after the allegations, included in a report dated July 19 and posted on Quintessential’s website, were picked up by Italian media on Wednesday.
Italy’s Bio-on denies U.S. fund’s allegations of accounting flaws
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