Juventus Football Club S.p.A.  is a top tier Italian professional football club based in Turin (Piedmont). Founded in 1897, Juventus has been listed on the Italian stock exchange (Borsa Italiana, Milan) since 2001 and has a market capitalization around 1 billion EUR.

On July 12^th, 2021 the Consob, the Italian Financial Authority, carried out an audit concerning some items recorded in the Annual Financial Report as of June 30^th, 2020 and in the Half-Yearly Financial Report as of December 31^st, 2020. The result of this on-site inspection led, on October 19^th, 2022, to the publishing of the “Delibera” n. 22482, a formal resolution from the Consob that ascertained:

• the non-compliance of the 2020 financial statements (as of June 30th, 2020) with respect to international accounting standards (IAS) nn. 1, 10, 37, and 38;

• the non-compliance of the 2021 financial statements (as of June 30th, 2021) with respect to IAS nn. 1, 8, 37, and 38;

• the non-compliance of the half-year financials as of December 31st, 2021 with respect to IAS nn. 1 and 8 related to comparative results with respect to the previous financials.

Juventus has not appealed this resolution, which is therefore to be considered final.

Moreover, on November 26^th, 2021 Juventus was notified of the existence of an investigation by the Public Prosecutors at the Court of Turin for alleged irregularities, with criminal relevance, in the financial statements (2018/19, 2019/20, 2020/21 and 2021/22). It has to be mentioned that following the Consob’s findings reported in the Delibera No. 22482, on October 22^nd, 2022 even the auditing firm Deloitte&Touche, by revising the Company’s financial statements, made some remarks on the Juventus’ financial statements as of 30 June 2022.

On November 28^th, 2022 all the members of the Juventus Board of Directors as well as the Chairman, in light of the ongoing investigations and the remarks made by Consob, resigned from their mandates.

On November 30^th, 2022 Public Prosecutors formalized the request for indictment against Juventus’ former managers as well as against the company itself as civilly liable. After a ruling (06/09/2023) from the Italian Supreme Court (Corte di Cassazione) that moved the procedure before the Tribunal of Rome, on December 22^nd, 2023 the Public Prosecutors notified Juventus of the conclusion of the new round of investigation with allegations related to – among other things – false corporate communications, market manipulation, fraudulent declaration by use of invoices, and obstruction of the exercise of the functions of public supervisory authorities. All the allegations can be traced back to three main counts:

• the “repurchase agreements” for financials 2017/18, 2018/19, and 2019/20;

• the “salary maneuvers” for financials 2019/20, 2020/21, and 2021/22;

• the “crossed transactions” for financials 2018/19, 2019/20, and 2020/21.

Juventus FC Equity, 2017-2024.

On October 25^th, 2023 the Consob issued an additional Delibera (No. 22858, currently appealed by the Company) by which ascertained non-compliance to international accounting standards with respect to Juventus’ financial statements as of 30 June 2022 and 31 December 2022. Even in this case, irregularities regarded repurchase agreements, salary maneuvers and crossed transactions among football clubs.

On June 17^th, 2024 the Rome Public Prosecutor’s Office – consistently with the accusations formulated by the Turin Public Prosecutor's Office – formally requested the indictment of several Juventus’ former manager, including its former Chairmen, with criminal hypotheses of market manipulation, fraudulent declaration by use of invoices, and obstruction of the exercise of the functions of public supervisory authorities.

Lastly, on September 22^th, 2025 the Penal Court of Rome accepted the plea bargain proposed by several former managers and the Juventus itself, sentencing the defendants to pay the legal costs and pecuniary sanction. Furthermore, Juventus and its former managers have reached settlement agreements to reimburse part of the damages claimed by investors.

Our Proposal

Martingale Risk is offering support to anyone who purchased Juventus Football Club S.p.A. equities, helping them to recover losses suffered due to Juventus' wrongdoing.

After having assisted clients in joining the now concluded criminal proceedings before the Penal Court of Rome, ended with a plea bargain and several settlement agreements on September 22^nd, 2025, Martingale Risk offers to investors a renewed opportunity to recover their losses through civil proceedings.

We will be operating on a full contingent fee basis of the recovered amount, with no anticipated costs, fees or expenses for the clients.

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Investors who purchased or acquired Juventus Football Club’s securities (both equities and capital increase rights) may be eligible to participate and seek compensation for their losses. Should this be of interest, kindly use the contact form below to submit evidence of transactions on the securities identified below.

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