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That could potentially be a turning point for Veru stock. I think the only scary about the report is that some executives at LifeMD, used to work at Redwood Scientific, which was shut down by FTC upon fraud. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." Under Mr. Cook's . What Is the Best EV Stock to Buy Now? SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ --CleanSpark, Inc. (Nasdaq: CLSK), ("CleanSpark, or "the Company"), an advanced software and controls technology solutions company focused on solving modern energy challenges, has become aware of a report making false accusations against CleanSpark and its officers. After they cash in on the Short, they then turn around and ride the wave back up, which happens to most companies they've done this to. The Culper Research report was also cited in a November 2022 class action lawsuit, which alleged that Core Scientific failed to disclose a series of adverse . I bought calls just before market close yesterday lol fuck my life. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. I guess my last point is - how much of yesterday's decline is attributed to a short report from a company with a terrible track record vs. attributed to why the stock has declined between the earnings and short report? However, the language in the response letter uses terms like "we are withholding documents that may be responsive" which Culper and co. are using to lead investors to the conclusion that such records do in fact exist and that an investigation into likely what Culper just detailed in their "report" is ongoing. I did some deeper digging though using SEC FOIA request logs and Culper's own posts on twitter in an attempt to pull back the curtain a bit. Does someone more knowledgeable than me have any insight into these numbers ? VERU stock remains an extremely risky bet today. The second major issue the Culper report has with Veru is the quality of management. On Wall Street, H.C. Wainwright dropped Blink Charging to a Neutral rating from Buy last week on a valuation call that did not allude to any wrongdoing at the company.. Yes, in the short term, a short attack on a small cap will often send shares down, and Aterian's stock has dropped 35% since the report came out. The historical nonfiction book i read was titled "George Washington's Secret Six" and it was written by Brian Kilmeade and Don Yaeger. Copyright 2023 InvestorPlace Media, LLC. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? For more information, contact opendata@sec.gov. Thus, we assign the incremental $18.0M to RexMD. All Rights Reserved. If too many people are short a stock, the trade might flip on them, and a short squeeze might take place, causing the stock to zoom higher. That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. Making the world smarter, happier, and richer. Use of Culper Research's ("Culper") research is at your own risk. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. On October 31, 2019, Culper Research published a scathing report detailing reasons Culper Research believes the Company's internal review "was a farce, and shares are ultimately worthless." Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. Aterian (f.k.a. The company did not report any news, but these losses are a result of a short-seller report issued by investigative research firm Culper Research. When typing in this field, a list of search results will appear and be automatically updated as you type. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. I do wish to raise two issues: Rivington and my background. To other RS execs were laundering money (husband and wife). In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any information on this site. On April 29, the company rebranded from Mohawk Group Holdings to Aterian. Lorem ipsum dolor sit amet, consectetur adipiscing elit. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. To the best of our ability and belief, all information contained herein is accurate and reliable, and has been obtained from public sources we believe to be accurate and reliable, and who are not insiders or connected persons of the securities covered herein or who may otherwise owe any fiduciary duty or duty of confidentiality to the issuer. You should assume that Culper (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors has a position in any securities covered herein. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! The suit's defamation claims center on a Culper report and 'investor alerts' accusing LifeMD principals of engaging in fraud at a previous company and using unlicensed doctors to dispense . Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. On February 26, 2021, Hindenburg Research and Culper Research published reports regarding SOS Limited, alleging that the Company was a "pump and dump" scheme that used fake addresses and doctored . To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. Veru(NASDAQ:VERU) is set to discuss on May 10 with the Food and Drug Administration a pre-Emergency Use Authorization (EUA) meeting for its Phase 3 Covid-19 drug, sabizabulin (VERU-111). Time to Buy? Invest better with The Motley Fool. Culper Research, an activist short-seller that in its words "seek[s] to expose companies which have misrepresented their operations, failed to disclose significant risks, misappropriated capital, possess accounting irregularities, or otherwise deceived investors," published a blistering report on its short position in Veru. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. Sign up below to get this incredible offer! At this point, the connection between all these entities and Culper is unclear, beyond the fact that Culper posted the response to Ma-Weaver/Cable Car Capital's SEC FOIA request back in December. Criminal Allegations, and an ICO Scam . Mohawk Group Holdings) was founded by . culper research legitmichelle fleury ancestry. They do this behind a wall of relative anonymity which is curious given their apparent altruistic intentions of "protecting investors" would lend you to think they would want to be praised for their support for all the poor little guys like us. I bought this stock after Citron recommended it. The Motley Fool recommends Aterian, Inc. Blink Charging (NASDAQ: BLNK) trades lower after short seller Culper Research calls the company a scheme to pillage minority investors to the benefit of insiders. We also invite anyone who has any information regarding the persons or entities behind Culper Research to contact the Company at the Investor Relations email address or contact number provided below. All expressions of opinion are subject to change without notice, and Culper does not undertake to update or supplement this report or any of the information contained herein. Press question mark to learn the rest of the keyboard shortcuts. Cost basis and return based on previous market day close. Jan 21, 2021 1:53PM EST. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. The complaint, over an alleged short-and-distort stock scheme, was filed by Gordon Rees Scully Mansukhani on behalf of LifeMD Inc., CEO Justin Schreiber and CTO Stefan Galluppi. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. culper research legitsan juan airport restaurants hours. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. Veru has sales revenue from other medical assets it owns. More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! The company generated about $23,100 in revenue for the first half of 2021. Copyright However, such information is presented as is, without warranty of any kind whether express or implied. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. It stinks like a skunk to me, but Im not smart. Also, did you notice that there are now at least half a dozen law firms trolling for members to a class action lawsuit against Life? The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. REKR reported $245,000 in Oklahoma revenue for itself, and $1,000,000 in revenue for the state of Oklahoma - "over 25,000" notices of non-compliance were issued, but REKR . It's important to remember that there are two sides to every story. Following publication of any research, we intend to continue transacting in the securities covered herein, and we may be long, short, or neutral at any time hereafter regardless of our initial recommendation, conclusions, or opinions. *Average returns of all recommendations since inception. About Us| Nasdaq This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Here is what I think: These scumbags are going after companies with low institutional/high retail stocks that are on fire, to take advantage of panic. And changing your chief financial officer in the midst of this doesn't exactly reassure. Why would the block trades be significantly lower than current stock price at the time? Use of Culper Research's("Culper") research is at your own risk. Not a Bloomberg Law Subscriber?Subscribe Now. Taylor Carmichael has no position in any of the stocks mentioned. 1-2, 13). Use of Culper Research's("Culper") research is at your own risk. Also, apparently, most of the patients in the study were outside of the U.S. Customer Service| The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. If you can't trust management, or its numbers, you really shouldn't be in a stock. Will Be Even Bigger Than Your Wildest Expectation, 7 Over-$100 Stocks That Are Worth Every Penny, Louis Navellier and the InvestorPlace Research Staff, 5 Penny Cryptos With the Most Potential for Growth, 7 Penny Stocks Poised for Explosive Growth in 2023. The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available.