US Top News and Analysis | Tire giant Pirelli vows legal action as short seller alleges ‘close relationship’ with Russia

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Italian tire manufacturer Pirelli announced that it has hired lawyers to pursue legal action against short‑seller Grizzly Research after the firm released a report claiming Pirelli maintains a “close relationship” with Russia that threatens Western security. Grizzly alleged that Pirelli’s Russian operations generate a larger share of profit than disclosed, purportedly accounting for 10 % of net earnings, and suggested the company supplies tires to the Russian military and shares critical technology with a state‑controlled institute. Pirelli refuted the accusations, stating it does not produce tyres for military use, that its Russian‑related revenue is far lower, and that the report contains false information; it has instructed its counsel to act in all jurisdictions to protect shareholders and the company’s reputation. The allegations briefly drove Pirelli’s shares down before they recovered.

Read more: https://www.cnbc.com/2026/06/04/pirelli-grizzly-research-russia-legal-action.html

#Pirelli #GrizzlyResearch #GattiPavesi #Kirovplant #Westernsecurity

Sweden Herald - Latest Sweden News | Pirelli falls after Grizzly Research questions alleged Russian dealings by Sweden Herald

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Italian tire maker Pirelli saw its shares tumble on the Milan Stock Exchange after short‑seller Grizzly Research accused the company of selling tires to the Russian army in occupied parts of Ukraine, claiming the Russian military is a major customer and source of income. Grizzly urged Pirelli to divest its assets in the region and take the financial hit. Pirelli denied the allegations, saying the information is incorrect. The stock fell about 13 % at the market open—the biggest drop since 2020—before partly recovering to a loss of just over 4 % by mid‑morning.

Read more: https://swedenherald.com/article/pirelli-falls-after-grizzly-research-questions-alleged-russian-dealings

#Pirelli #GrizzlyResearch #Russianarmy #Russianmilitary #businessnews

US Top News and Analysis | Prosthetics firm's stock plunges as it denies short-seller's Russia 'propaganda' allegations

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German prosthetics company Ottobock saw its shares tumble more than 10% after U.S. hedge fund Grizzly Research published a report accusing majority shareholder and board chair Hans Georg Näder of siphoning funds for personal use, financing a lavish lifestyle and “leniently” allowing its products to be used in Russia’s war effort. The report also alleged that Ottobock relied on aggressive “payment‑in‑kind” loans and that over 30% of its net income came from Russian business—far higher than the company’s disclosed figures—while accusing the firm of “aggressive” accounting and exposure to regulatory risk. Ottobock rejected the allegations as unfounded, said it could not comment in detail before its annual general meeting, and promised a fuller response afterward. The controversy comes as the firm, which floated on the Frankfurt Stock Exchange in October 2025 with a €3.8 billion valuation, faces scrutiny over its Russian revenue, which the prospectus listed at under 9% for the first half of 2025.

Read more: https://www.cnbc.com/2026/05/19/ottobock-grizzly-russia-ukraine-propaganda-prosthetics.html

#Ottobidge #GrizzlyResearch #HansNder #EQT #FrankfurtExchange #HansGeorgNder #SiegfriedEggert