Greece-based jewelry and accessory producer and retailer Folli-Follie on Friday announced that it has finally signed a contract with Ernst & Young (EY) to conduct a thorough audit of the former’s finances and economic results, a little more than a month after a particularly negative report by a NYC short-seller threw the company into a tailspin.
Trading of FF’s shares at the Athens Stock Exchange was suspended last month, while Greece’s capital markets commission also conveyed a request to a relevant prosecutor for an urgent investigation into the group’s financial results.
Press reports over the past few days cited “hiccups” in the decision hire EY. Nevertheless, the contract was made official on Friday afternoon, hours after a board shakeup at the company.
