Prosthetics firm's stock plunges as it denies short-seller's Russia 'propaganda' allegations

TOPSHOT - German Chancellor Olaf Scholz (R) shakes hands with the prosthetic hand of a worker of the German med-tech company Ottobock during the opening of the Global Disability Summit in Berlin, on April 2, 2025. The third Global Disability Summit (GDS) is held from April 2 to April 3, 2025 in Berlin, Germany, hosted by the International Disability Aliance, the Government of Germany and the Government of Jordan. (Photo by John MACDOUGALL / AFP) (Photo by JOHN MACDOUGALL/AFP via ) John Macdougall | Afp | Shares in German prosthetics firm Ottobock fell over 10% in Europe on Tuesday after a U.S.-based hedge fund made allegations about the conduct of its owner. Hedge fund Grizzly Research announced a short position in Ottobock in its report on Tuesday, accusing the group's majority shareholder and chair of the board, Hans Georg Näder, of extracting funds from the company to fund a lavish lifestyle, as well as "actively supporting the Russian war propaganda effort by acting lenient regarding regulatorily required checks for military use of its products." The publicly available report , released online, comes with a disclaimer that all statements contained within it are the opinions of Grizzly, not statements of fact, and its conclusions are based on "generally available information, field research, inferences and deductions". CNBC could not independently verify the claims. …