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International Business Times UK
International Business Times UK
Jim Manzon

Why Trustpilot Lost £243M in One Day: The 'Mafia-Style' Extortion Allegations Explained

Consumers often see Trustpilot ratings at the top of Google search results, raising manipulation concerns. (PHOTO: Trustpilot Reviews)

Trustpilot Group Plc experienced its worst single-day trading session in history on 4 December, after a short-seller accused the global review platform of operating what it described as a 'mafia-style extortion' scheme.

Shares in the London-listed company tumbled more than 30%, wiping approximately £243 million ($324 million) from its market value and sending the stock to a near two-year low of 131.2 pence, according to Bloomberg.

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