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      "text": "Today’s news that Rallye, Finatis, Euris, and Fonciére Euris have entered safeguard proceedings due to financial distress likely marks the beginning of the end for this financing structure, which has been a parasite on Casino for years.",
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      "text": "In the approximately three and one-half years since we raised these issues, Mr. Naouri has been allowed to continue to strip Casino of assets and cash. As a result, Casino is more vulnerable to foreign competition.",
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      "text": "Today’s news that Rallye, Finatis, Euris, and Foncière Euris have entered safeguard proceedings due to financial distress likely marks the beginning of the end for this financing structure, which has been a parasite on Casino for years.",
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      "text": "It was made clear to us in late 2016 that Mr. Naouri had obtained support from certain powerful individuals, and as a result, we felt compelled to close our short positions. An AMF investigation concerning us is ongoing.",
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      "text": "It is critical for democratic societies that people be able to criticize not only politicians, but also those who have access to, and are able to influence, politicians and policymakers.",
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      "text": "Regardless of the companies’ attempt to blame their failures on “speculative attacks”, these proceedings are the direct result of Mr. Naouri’s mismanagement and selfishness.",
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      "text": "We hope that the ensuing safeguard proceedings strengthen Casino, and preserve – even grow – jobs. Further, we encourage the AMF to redirect its focus from skeptics and focus instead on their warnings.",
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      "text": "In December 2015, Muddy Waters Capital warned about Casino, Rallye, and their management – in particular Jean-Charles Naouri. We stated that Casino was being hollowed out to support an unsustainable debt burden in the holding companies above it.",
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