Carrefour's share prices have plummeted after the French government announced it was suing the company for forcing suppliers to unfairly lower prices, Reuters reported Thursday.
After an investigation which found that Carrefour made suppliers offer huge discounts, the government launched the suit Wednesday and said it would seek a fine and a court order over the company's illegal and 'abusive' commercial practices.
Carrefour's shares were down to 3.5% in early trading, the lowest share on France's benchmark CAC-40 index.
The stock has dropped 15% so far in 2016.
The world's second largest retailer said that it had no comment on the lawsuit.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. To subscribe to ESM: The European Supermarket Magazine, click here.
