Quintessential Capital Management

Akazoo sacks CEO in
 wake of QCM report

The governing board of online music streaming company Akazoo, which was the subject of allegations by the Quintessential Capital Management (QCM) fund last month, decided on Friday to dismiss chief executive officer Apostolos Zervos.
QCM released a report in April alleging that Akazoo had been misleading its shareholders. 

Akazoo is facing legal proceedings

A series of US legal firms on Tuesday invited the shareholders of Greek online music streaming company Akazoo to take part in legal cases being launched against the Athens-based corporation on the grounds of cheating, following a hedge fund report alleging serious irregularities at the Nasdaq-listed enterprise.

QCM: Akazoo is a ‘castle of cards’

The Quintessential Capital Management fund, whose managing partner Gabriel Grego was instrumental in revealing the true state of Greek jewelry company Folli Follie, has now claimed in a report that music streaming company Akazoo SA will be the next Greek enterprise to crumble. Akazoo, listed on the Nasdaq since last September, is accused of trying to profit at its shareholders' expense.

QCM probes another listed company after Folli Follie

Some 14 months after Gabriel Grego and his fund, Quintessential Capital Management (QCM), exposed the goings-on at troubled Greek jewelry maker and retailer Folli Follie, leading to the suspension of trading in the latter's stock and hurting many investors and funds, the same fund is back in the spotlight, this time blowing the whistle on an Italian firm.

Greek court rejects Folli's request for protection from creditors

A Greek court has rejected a request by Greek jewelry maker Folli Follie for temporary protection from its creditors before it completes a restructuring plan, a judicial source said on Monday.

Folli, whose shares have been suspended since May, said last week that management was producing a revised business plan together with Deloitte for restructuring its operations.

Prosecutor orders asset freeze in Folli Follie case

A financial prosecutor has ordered a freeze of the assets belonging to a chartered accountant of troubled Greek jewelry maker Folli Follie and those of an executive of the company's subsidiary in Hong Kong.

According to reports, prosecutor Yiannis Dragatsis ordered the freeze because the financial executive sent "falsified data from Asia" which the accountant "approved."

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