$10/person - click to reserve your spot! Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Veru (VERU -35.98%) has found itself the target of a short-seller, and as a result the biotech company's shares took a more than 12% hit on an otherwise upbeat Monday for the wider stock market. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. Read the complaint here. License our industry-leading legal content to extend your thought leadership and build your brand. 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 . How valuable are the assets if you can't trust the sales numbers? Is This Warren Buffett Stock a Buy After Its Dividend Boost? SALT LAKE CITY, January 21, 2021 -- 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. That's what happened to the shorts in the Gamestopfrenzy earlier this year. Did anyone read this? Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Verified account Protected Tweets @; Suggested users Veru Stock Could Face Difficulties If the Culper Research Report Is True. Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users. 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. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. So let's take a look at what Culper is saying about Aterian. Press question mark to learn the rest of the keyboard shortcuts. Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). The Motley Fool has a disclosure policy. 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 company generated about $23,100 in revenue for the first half of 2021. culper research legitmichelle fleury ancestry. Do these allegations sound legitimate or a . The publication of the report and the tweet thread come hot on the heels of the news that the Food and Drug Administration (FDA) has set a pre-Emergency Use Authorization (EUA) meeting date to discuss that phase 3 study data. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Learn More. To make the world smarter, happier, and richer. If you're a natural optimist, shorts are handy as a devil's advocate, reminding you of all the bad things that can happen to your stock. This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Further, Culper Research thinks LifeMD is engaged in fraudulent and illegal activities that are similar to those of Redwood Scientific, a company that faced severe legal penalties at the hands of the U.S. Federal Trade Commission (FTC) back in 2018. Another bright side is the short report does not have a single mention of PDFSimpli, so if all else fails and the telehealth biz goes to zero at least we have a market cap base of maybe $60-70 million for PDFSimpli lol. 831 Words4 Pages. 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. *Average returns of all recommendations since inception. Culper makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. By using this site, you are agreeing to security monitoring and auditing. Thus, we assign the incremental $18.0M to RexMD. The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . So the names of the defendants in the lawsuit against Redwood were as follows. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. This suit was surfaced by Law.com Radar. Use of Culper Research's ("Culper") research is at your own risk. Cost basis and return based on previous market day close. The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. Dont listen to shitron in the first place, that guy is the worst, Did some research, seems like Dr Badii is no longer with RexMD. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any investment decision with respect to transacting in any securities covered herein. Will Aterian stock recover from this short attack? Shouldn't you, at a minimum, audit the financials before you pay $25 million in cash, and give up 4.22 million shares ($60 million at current prices), and agree to acquire a $15 million promissory note? For example, if it has to redesign the study and start from scratch the costs could go up. *Average returns of all recommendations since inception. 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. Here's what the company said in part. Culper Research also notes that some of LifeMD's current executives were implicated in the Redwood scandal, either as employees of the company directly involved in these crimes or as major shareholders. Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. Our offerings consist of intelligent energy monitoring and controls, intelligent microgrid design software, middleware communications protocols for the energy industry, energy system engineering, and software consulting services. Value oriented and event driven investor. Holders of short positions trade on an expected decline in the price of a stock. Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. What Is the Best EV Stock to Buy Now? Cost basis and return based on previous market day close. For more information, visit https://ATL-DATA.com. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any investment decision with respect to transacting in any securities covered herein. 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. By the end of December, when Core filed for Chapter 11 bankruptcy, the firm's stock had plummeted by more than 98%.. If any provision of these Terms of Service is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties intentions as reflected in the provision and rule that the other provisions of these Terms of Service remain in full force and effect, in particular as to this governing law and jurisdiction provision. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. The two short-sellers claimed that SOS stock was an . To make the world smarter, happier, and richer. Prior to co-founding Culper Capital Partners, he served as Majority Shareholder, Chairman & CEO of Glebar Company ("Glebar"), a role which he held from April 2013 to March 2020. Docent led tours every 30 minutes of the Spies! I bought calls just before market close yesterday lol fuck my life. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. They short the company, post these reports, and reap the benefits of people over reacting. 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 . Picture this: Benedict Arnold, one of the United State's (U.S.) most infamous traitors and John Andre are successful in conspiring to attack West Point in 1780 ("The Culper Spy Ring," 2010). All rights reserved. Five days later, the short report came public. The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution Invest better with The Motley Fool. Investors could turn away from the company in droves if the researcher's allegations have merit, however. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? quotes delayed at least 15 minutes, all others at least 20 minutes. Culper makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. You agree that the information on this website is copyrighted, and you therefore agree not to distribute this information (whether the downloaded file, copies / images / reproductions, or the link to these files) in any manner other than by providing the following link http://www.culperresearch.com The failure of Culper to exercise or enforce any right or provision of these Terms of Service shall not constitute a waiver of this right or provision. LexisNexis and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). 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. They have a financial motivation for doing so -- they want the stock price to go down. I have not but wouldn't it stand to reason that a smaller company entering the space would need to spend more to build brand awareness? According to the accounting firm, the numbers are fine. Looking at the relevant FOIA request logs on the SEC website suggests an individual named Jacob Ma-Weaver twitter linkedin acting on behalf of what appears to be his short-selling fund Cable Car Capital LLC. By downloading from or viewing material on this website you agree to the following Terms of Service. Also he was allowed to treat patients via telehealth telehealth while on probation (src). For example, on April 11 Veru announced its Covid-19 drug brought down the mortality rate by 55% but the Culper report said that this was a manipulation of how high mortality rates were with Covid-19. It's important to remember that there are two sides to every story. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. 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? from 8 AM - 9 PM ET. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. Skip to Main Content. Law.com Compass delivers you the full scope of information, from the rankings of the Am Law 200 and NLJ 500 to intricate details and comparisons of firms financials, staffing, clients, news and events. The Culper Spy Rings was a spy network started by George Washington to get information about the British, during the Revolutionary War. Significant to regional and national historical narratives, SBU's letters were authored in 1779 and 1780 and document espionage activities in the Three Village area of Long Island, New York, the . VERU stock remains an extremely risky bet today. Culper describes Xometry as "an increasingly commoditized middleman for engineers and tinkerers seeking prototyping and small run parts," a description that matches our recent piece on Distributed Manufacturing - A Case Study Unfolding. Customer Service| The Culper Spy Ring was assembled in 1778 by Major Benjamin Tallmadge (alias, John Bolton/721) at the request of General George Washington (711) and operated on Long Island (728) and New York City (727) during the . The problem is this is a highly speculative play for most investors. 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. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . 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. Treace Medical Concepts (TMCI) dropped 17% after a new short report from Culper Research.Culper Research says it's short the stock.Treace Medical (TMCI) didn't immediately return. Research may contain forward-looking statements, estimates, projections, and opinions with respect to among other things, certain accounting, legal, and regulatory issues the issuerfaces and the potential impact of those issues on its future business, financial condition and results ofoperations, as well as more generally, the issuers anticipated operating performance, access to capitalmarkets, market conditions, assets and liabilities. Research may contain forward-looking statements, estimates, projections, and opinions with respect to among other things, certain accounting, legal, and regulatory issues the issuerfaces and the potential impact of those issues on its future business, financial condition and results ofoperations, as well as more generally, the issuers anticipated operating performance, access to capitalmarkets, market conditions, assets and liabilities. 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. In December 2020, Aterian purchased 9380 Macarthur LLC ("the Smash Assets") from (a) convicted felonwho also appears to be late on $4.1 million of taxes to the State of California. Nasdaq On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. The Motley Fool has a disclosure policy. This cant be right ? Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. Click to reserve your spot! https://www.law.com/thelegalintelligencer/2021/09/27/defamation-suit-against-research-company-over-alleged-short-and-distort-stock-scheme-alert-moves-to-fed-court/. 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). Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Published on June 1, 2022 June 3, 2022. Yes, the two executives were at Redwood Scientific. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications.

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