(Reuters) – Italy’s Bio-on SpA (ON.MI) reported a collapse in first-half revenue and slashed its full-year sales forecast on Tuesday, blaming what it said was unfounded criticism of its accounts by a U.S. hedge fund and almost halving its market value. The results, including a drop in sales to just under 1 million euros ($1.1 million) from 6.1 million in the first half of last year, came after Quintessential Capital Management (QCM) questioned the bio-plastics firm’s accounts in July.
Italy’s Bio-on slashes 2019 sales forecast, blames U.S. hedge fund
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