Greek securities regulator sues Folli's management

The Greek securities regulator said on Tuesday it filed a suit against the management of jewellery maker Folli Follie.

Folli’s shares suffered heavy losses on the Athens stock exchange in May after a report from long-short equity fund Quintessential Capital Management raised concerns over the jeweler's finances and cast doubt over the number of points of sale the company says it operates.

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Shares in Folli were suspended last week. Folli said it was unable to provide financial data, according to the regulator.