The Juventus midfielder has been found guilty and is to pay a penalty for parading a placard adjudged to be insulting during their title celebrations last season
During the team's Serie A victory parade over the summer, the 27-year-old draped a message from the bus in regards to the incident and the disciplinary committee has seen fit to sanction the former Cesena man.
"We believe there are full grounds for a referral," a statement read.
"During the celebrations that followed the Scudetto win by Juventus, Giannacherini displayed a banner from the bus, the content of which is believed to be offensive to Milan."
The Old Lady are currently unbeaten in Serie A this season, with seven wins and one draw from their eight games.