US luggage company Samsonite listed on the Hong Kong Exchange in 2011. It was targeted by short-seller Blue Orca in May 2018 alleging that it had inflated profits through aggressive acquisition accounting and avoided writing-down its inventory. The short-seller also accused the company's CEO of resume fraud and of questionable related party transactions. The company's CEO was forced to resign over his resume and Samsonite's financial and share price performance deteriorated in the aftermath of the report, partially validating the claims. However, the allegations over acquisition accounting were not proven. 

Last updated April 2022

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