2CRSi Requests Trading Suspension Following Critical Report by Grizzly
High-performance server manufacturer 2CRSi requested the suspension of its stock trading on Euronext Thursday following the publication of a critical report by Grizzly Research. The company disputes the contents of the report and is preparing a detailed response.
A Report from Grizzly Research with Serious Allegations
On Thursday, June 18, Grizzly Research LLC released a report containing serious allegations about 2CRSi. The company's statement did not specify the detailed nature of these accusations or their scope (accounting, business practices, governance, product data). 2CRSi has reviewed the document and 'strongly' disputes its content, according to its official statement.
Requested Suspension and Internal Procedure Initiated
2CRSi has requested Euronext to suspend trading of its shares to allow sufficient time to prepare a comprehensive response and to ensure the market has access to all relevant information. The Board of Directors has engaged the Audit and Risk Committee. The company commits to communicate as soon as possible, in accordance with its regulatory obligations.
Reservation of Rights and Lack of Financial Details
2CRSi reserves the right to take any action it deems appropriate to protect its rights, reputation, and the interests of its shareholders. The statement does not disclose the potential financial impact of this controversy nor the exact timeline for the lifting of the suspension.
