Oatly Shares Fall After Short Seller Spruce Point Claims Overstated Revenue
July 14, 2021 at 01:45 pm EDT
On July 14, 2021, Oatly Group AB announced that its shares fell as much as 7% on July 14, 2021 after short seller Spruce Point Capital Management alleged the Swedish vegan milk maker used misleading accounting practices to inflate its revenue. Spruce Point, which had taken a short position in Oatly, also claimed the company misrepresented environmental sustainability practices related to its production to investors.