June 6, 2019 / 9:38 AM / 10 days ago

French regulator suspects short-seller Muddy Waters of "deception" on Casino - Le Monde

PARIS, June 6 (Reuters) - France’s AMF financial regulator suspects short-selling firm Muddy Waters of “deception” regarding supermarket retailer Casino - whose shares have been hit by negative Muddy Waters’ comments, newspaper Le Monde reported on Thursday.

Officials at the AMF could not be reached for comment and French representatives for Muddy Waters had no immediate comment.

In 2015, Muddy Waters criticized Casino’s complex structure and accounting practices, saying the supermarket retailer was ‘dangerously leveraged’, and managed for the short-term. Casino has consistently refuted Muddy Waters’ accusations. Nevertheless, last month Muddy Waters said news that Casino’s parent company Rallye had been placed under protection from creditors was “a resounding vindication of the warnings we sounded.” (Reporting by Sudip Kar-Gupta and Pascale Denis; Editing by Dominique Vidalon)

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