Brazilian Fintech XP Sues Short Seller for Defamation in U.S.

Brazilian fintech company XP files a U.S. lawsuit against Grizzly Research for defamation, claiming over $100 million in harm to business and reputation. Grizzly accused of maliciously driving down XP’s stock price for profit. Short sellers like Grizzly sell borrowed shares to profit on price differences. XP denies Ponzi scheme allegations, shares fell 5.5% on March 12. Lawsuit seeks compensatory and punitive damages.

Read more at Yahoo Finance: Brazil’s XP sues short seller Grizzly Research in New York, alleges defamation