Like, within two days of the report, which just adds to the shadiness of the situation. Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, WORKERS COMPENSATION ATTORNEY - Hartford, CT, Offering an Opportunity of a Lifetime for Personal Injury Lawyers, What Does Your Business Agreement Really Mean? The second major issue the Culper report has with Veru is the quality of management. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. 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. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. Aterian issued a press release to respond to the short attack. But there are some warning signs here. Use of Culper Research's ("Culper") research is at your own risk. Making the world smarter, happier, and richer. In addition, these transactions were structured as asset purchases only and therefore the founders did not become employees of Aterian. They short the company, post these reports, and reap the benefits of people over reacting. The Culper Spy Rings was a spy network started by George Washington to get information about the British, during the Revolutionary War. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Law.com Compass includes access to our exclusive industry reports, combining the unmatched expertise of our analyst team with ALMs deep bench of proprietary information to provide insights that cant be found anywhere else. 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. Law.com Radar publishes daily updates on just-filed federal cases like this one. CleanSpark takes seriously any accusations of impropriety, stands behind its prior statements and disclosures, and will not tolerate unfounded and reckless claims against the Company. Culper also . Did they not look into this and see all this??? The researcher is also highly unimpressed with the executives guiding the company. But that attitude raises a few questions. 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? According to the accounting firm, the numbers are fine. Copyright 2023 Culper Research - All Rights Reserved. That could potentially be a turning point for Veru stock. Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Please declare your traffic by updating your user agent to include company specific information. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. Where This Leaves Investors in Veru Stock. VERU stock remains an extremely risky bet today. It is our view that the Oklahoma revenue opportunity is just 1/28 th (1.6MM/45MM) of or 96% lower than what Berman intimated during the investor presentation.. REKR's first quarter 2021 earnings corroborate our view. 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). 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. To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (" CleanSpark, or "the . Investors might want to watch out. In the tweet thread, Culper wrote that "Veru's top ranks harbor a history of alleged sham science, failure, and misrepresentation" and are "a team of alleged frauds and failures who now tout a COVID-19 drug.". To hide from slander cases, perhaps?). 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. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. 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 this stock after Citron recommended it. 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. 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. If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. culper research legitsan juan airport restaurants hours. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? For more information, please see the SECs Web Site Privacy and Security Policy. Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. Also he was allowed to treat patients via telehealth telehealth while on probation (src). Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. Short-sellers Hindenburg Research and Culper Research said on Friday they have taken a short position on Chinese blockchain firm SOS Ltd's stock, sending the company's shares down 23%. 10 czerwca 2022 For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". Create an account to follow your favorite communities and start taking part in conversations. About Us| Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Aterian (f.k.a. 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. u/wallstreetbets crowd? Join The Legal Intelligencer now! Buy These 2 Stocks in 2023 and Hold for the Next Decade, Warren Buffett's Latest $2.9 Billion Buy Brings His Total Investment in This Stock to $66 Billion in 4 Years, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. 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. Blink claims that 'EV drivers can easily charge at any of its 15,000 charging stations,' but we estimate the Companys functional public charging station network consists of just 2,192 stations, a mere 15% of this claim.". This suit was surfaced by Law.com Radar. Im holding on to see the company response. What should investors make of the allegations brought forth by Culper Research? Were short sellers putting together a scam? The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution Click to reserve your spot! On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. Published on June 1, 2022 June 3, 2022. Even more recently, yesterday April 13 actually, Culper tweeted the response from the SEC regarding a March 2021 FOIA request for information pertaining to any investigations into SOS, Ltd., $SOS. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? quotes delayed at least 15 minutes, all others at least 20 minutes. But it burnt through almost $9 million in free cash flow (FCF) during its latest quarter ending Dec. 31., according to its 10-Q filing. For more information, contact opendata@sec.gov. The Motley Fool has no position in any of the stocks mentioned. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. This is set for next Tuesday, May 10. Making the world smarter, happier, and richer. 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. CleanSpark Investigating Short Seller Culper Research. 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. That's $100 million you paid. Shares of healthcare services provider LifeMD (LFMD 1.68%) are plunging on Wednesday and were down by 22.3% as of 3:45 p.m. EDT. Use of Culper Research's("Culper") research is at your own risk. Thank you for your interest in the U.S. Securities and Exchange Commission. Veru has not yet officially responded to Culper's accusations, which are worrying. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. Docent led tours every 30 minutes of the Spies! What Is the Best EV Stock to Buy Now? I do wish to raise two issues: Rivington and my background. By downloading from or viewing material on this website you agree to the following Terms of Service. All Rights Reserved. Verified account Protected Tweets @; Suggested users Mohawk Group Holdings) was founded by . 1-2, 13). 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. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. 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. 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. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Meanwhile, almost six months after the acquisition, the audit has finally been completed, and Aterian finally filed its (late) numbers with the SEC on May 14. 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. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. To make the world smarter, happier, and richer. Cost basis and return based on previous market day close. Taylor Carmichael has no position in any of the stocks mentioned. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Sign up below to get this incredible offer! LFMD responded to short report, denying the claims and will report something in detail soon. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. On May 4, an anonymous short seller, "Culper Research," launched an attack on Aterian (ATER), a company that uses artificial intelligence to find, acquire, and launch popular consumer goods businesses. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. 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/. Eric Volkman has no position in any of the stocks mentioned. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? Unlimited access to The Legal Intelligencer, Access to additional free ALM publications, 1 free article* across the ALM subscription network every 30 days, Exclusive discounts on ALM events and publications. LFMD execs were not involved, and left the company. For some reason, Jacob appears to be very opposed to crypto which may tie in to Culper's short attacks on $SOS, but that is pure speculation on my part. We look for stocks with the potential for big moves in the near future up or down. Veru Stock Could Face Difficulties If the Culper Research Report Is True. Theyre calculating that LFMD spends an average of $36 in marketing costs per webpage visitor for REXMD while HIMS spends an average of $2.14 per website visitor for its products . Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. In the near term, anything can happen to a stock price. 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? Copyright 2023 InvestorPlace Media, LLC. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. 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. 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. Learn More. In this conversation. Read the complaint here. The historical nonfiction book i read was titled "George Washington's Secret Six" and it was written by Brian Kilmeade and Don Yaeger.
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