ARTICLE
2 October 2025

Stock Exchange Regulator Investigates Luxury Goods Manufacturer

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Duane Morris LLP

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It has been reported (here, behind a paywall), that CONSOB (the Italian stock exchange regulator)...
Italy International Law

It has been reported (here, behind a paywall), that CONSOB (the Italian stock exchange regulator) has been investigating comments made by luxury goods manufacturer Brunello Cucinelli in relation to the company's compliance with the EU's Russian sanctions.

Last week several short sellers of Brunello Cucinelli stock issued reports alleging that the company's stores remained open in Russia and continued to sell prohibited luxury goods. Despite denials from the company, these reports led to a sharp reduction in the price of the shares and trading in the stock was suspended.

The CONSOB investigation is primarily focussed on the question of whether the company has misled the market in its public comments and denials.

Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.

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