Milan-listed Brunello Cucinelli shed more than 17% after accusations it breached an EU ban on luxury exports
Shares of Italian fashion house Brunello Cucinelli experienced their steepest slump in over a decade on Thursday following accusations by a London-based short seller that it has continued operations in Russia despite European Union sanctions.
Trading in Cucinelli was suspended on the Italian exchange for about four hours after a steep drop. The stock later resumed trade and closed down more than 17% at $85.08, after plunging as much as 20% intraday, Bloomberg data shows.
Short seller Morpheus Research accused the brand of “misleading…
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