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Trading in Samsonite shares suspended

Trading in the shares of Samsonite International SA was halted from 9 a.m. on May 28.

In a statement to the Hong Kong stock exchange, the luggage maker said trading has been suspended "pending the release of a further announcement in relation to certain allegations contained in a report regarding the company which may constitute inside information of the company."

The development comes days after activist investment firm Blue Orca Capital LLC published a short-based opinion piece that makes a number of allegations about Samsonite, saying the company has "questionable accounting practices and poor corporate governance."

The travel bag maker has since issued a response and described the claims as "one-sided" and "misleading." The company said it reserves its right to take legal action against the investment firm and those responsible for the report.