Updated 3:05 p.m. ET Sept. 25 MILAN – Brunello Cucinelli on Thursday afternoon firmly rejected a short-seller’s allegations of irregularities in the company’s business activities in Russia. This, however, was not enough to avoid a sharp decline in its shares on the Italian Stock Exchange. More from WWD Trading was suspended earlier in the day and, after resuming, shares closed down 17.3 percent to 85.08 euros. Morpheus Research, which is betting Cucinelli’s stock will fall, issued a report alleging the ...