SAO PAULO, July 20 (Reuters) - Brazil's securities regulator
CVM said on Monday it had opened a preliminary investigation
into Via Varejo SA after a series of posts were sent
from the retailer's Twitter account purporting to show strong
May and June sales data.
Via Varejo said in one of the Twitter postings that game and
camera sales had skyrocketed 2,500% in May and June from a year
earlier. Another tweet claimed its TV sales had soared 1,900%
amid the coronavirus pandemic. But the tweets were later deleted
from Via Varejo's account.
The postings helped trigger a 7.35% rally in Via Varejo
shares on Monday as the once troubled retailer outperformed
e-commerce-focused rivals such as Magazine Luiza SA
CVM said in a statement that companies are allowed to
release information on social media platforms as long as they
also send it to the regulator. CVM added the information
published on social media also must be correct.
Via Varejo did not immediately comment on the matter.
(Reporting by Alberto Alerigi and Paula Laier, writing by
Editing by Marguerita Choy)