Fund managers have described a 17 per cent slump in the market value of footwear retailer Accent Group in response to the imminent release of escrowed shares as a "massive overreaction".

Accent Group earned a speeding ticket from the stock exchange on Monday after its shares plunged as much as 17.4 per cent to $1.33 in heavy trade, erasing gains since mid-May, before closing down 12.4 per cent at $1.41.