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Italian tire maker Pirelli
has instructed lawyers to take legal action against Grizzly Research after the short seller published a report claiming the firm has a “close relationship” with Russia that “poses a threat to Western national security.”
Pirelli has instructed lawyers at Gatti Pavesi Bianchi Ludovici Studio Legale Associato to “take action in all jurisdictions against those who have spread this false information” in efforts to “protect all shareholders and the company’s good name,” the company said in a Thursday statement.
It came after a Grizzly Research report claimed to have found a disparity between Pirelli’s publicly disclosed earnings and those it claims to have found in Russian filings.
