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Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; . . VERU stock remains an extremely risky bet today. The apparent purpose of the Culper Research "report" is to cover or profit from the publisher's short positions in the Company, which the publisher expressly acknowledges holding in the report itself. 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. To hide from slander cases, perhaps?). That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! 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. Is this a bad sign for your stock? At just 150 patients, the trial is a . Also, apparently, most of the patients in the study were outside of the U.S. In a 10-tweet thread digesting the report and posted on Monday, Culper accused Veru of "glaring anomalies" in its phase 3 clinical trial of coronavirus drug sabizabulin. The Motley Fool has a disclosure policy. Use of Culper Research's("Culper") research is at your own risk. Credit Solution Experts Incorporated offers quality business credit building services, which includes an easy step-by-step system designed for helping clients build their business credit effortlessly. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, CleanSpark Reports First Quarter FY2023 Financial Results, CleanSpark Reports Fourth Quarter and Year End FY2022 Financial Results. To make the world smarter, happier, and richer. 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. 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. Cost basis and return based on previous market day close. Agreed, this is pretty shitty but have to wait for the response. That could potentially be a turning point for Veru stock. Join The Legal Intelligencer now! 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. Published on June 1, 2022 June 3, 2022. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Between the Hindenburg "Report" (a series of tweets), some firm called Culper Research (who seems to have a mediocre track record), and multiple YouTube videos, investors have a lot to consider. 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. Only bright sides I can see are that none of the allegations suggest that the revenue is fake, so were still talking about a company poised to do $90M in rev this year, and that management will know theyre under a microscope and should be incentivized to clean up their act. That's what happened to the shorts in the Gamestopfrenzy earlier this year. 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. What Is the Best EV Stock to Buy Now? 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 . For example, if it has to redesign the study and start from scratch the costs could go up. Here's what the company said in part. 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. The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. "Tomorrow's report features two felons, two alleged scam artists, a CEO with a failed crypto hustle, and what we think is a wildly overhyped, deteriorating business facing existential risk." The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. 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. 1125 N. Charles St, Baltimore, MD 21201. The Motley Fool has a disclosure policy. Law360 (September 20, 2021, 7:52 PM EDT) -- A negative report from stock research firm Culper Research about telehealth company LifeMD Inc. was part of a "short and distort" stock scheme to defame . And, the marketing expense for RexMD by Culper is just an "estimate". If you can't trust management, or its numbers, you really shouldn't be in a stock. This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. $10/person - Space is limited. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. The suits 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 medications. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. When typing in this field, a list of search results will appear and be automatically updated as you type. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. It seems clear to us that this report is an attempt by a short seller to negatively impact . 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. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Eric Volkman has no position in any of the stocks mentioned. 1125 N. Charles St, Baltimore, MD 21201. The researcher is also highly unimpressed with the executives guiding the company. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. I bought calls just before market close yesterday lol fuck my life. 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 . 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. I need to wait for management's response and the Q1 earnings release to really make an opinion on the merits of this short report. 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? $10/person - click to reserve your spot! The problem is this is a highly speculative play for most investors. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. About Us| Veru has a market capitalization of $750 million at $8.46 as of May 6. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. This response seems to concede that the company acquired the business from somebody convicted of crimes ("we identified the historical legal concerns raised in the report"), but that it judged the information irrelevant ("unrelated to the acquired businesses"). Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . 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. That request was submitted in December 2020 and according to the SEC FOIA request logs, was done so by a Jeff Bourland linkedin on behalf of an unknown entity, perhaps the "Family Office" listed on his Linkedin. Please disable your ad-blocker and refresh. LFMD execs were not involved, and left the company. Criminal Allegations, and an ICO Scam . 831 Words4 Pages. Did anyone read this? Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. 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. 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. Published. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Use of Culper Research's ("Culper") research is at your own risk. 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 reality, they are simply conspiring to drive down the prices of stocks they take short positions in. 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. So let's take a look at what Culper is saying about Aterian. 2023 InvestorPlace Media, LLC. 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. Culper research countered with a well-timed short report tweeted at 8:05 AM spreading fear in the minds of longs that something was wrong going into the investor call. Read the complaint here. Rivington's association with Culper Jr., and Jr.'s association into the New York City British social environment, clearly places them in contact and since Rivington subsequently provided the British Naval . 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. By using this site, you are agreeing to security monitoring and auditing. The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. 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. Copyright 2023 ALM Global, LLC. Thus, we assign the incremental $18.0M to RexMD. Aterian (f.k.a. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Is this happening to you frequently? The report . Nasdaq LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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? 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). Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. *Average returns of all recommendations since inception. Both options are priced the same. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. Holders of short positions trade on an expected decline in the price of a stock. But they were not involved in any fraudulent activity. To make the world smarter, happier, and richer. A recent report by Culper Research contains numerous false and misleading statements about our company. Learn More. Miracle Cures and Murder For Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies. Create an account to follow your favorite communities and start taking part in conversations. Press question mark to learn the rest of the keyboard shortcuts. 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/. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Note: We do not offer technical support for developing or debugging scripted downloading processes. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. 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 . What Joseph L. Rini Knows, Attorney Rachel Y. Marshall A Pillar of Strength for the Community, SpotDraft Raises $26 Million in Series A Funding for AI-Powered Legal Software. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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 . Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. 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. The Patriots (colonists) were fighting against the British, in this war. Prosper Junior Bakiny has no position in any of the stocks mentioned. 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. If You Invested $1,000 in Veru in 2020, This Is How Much You Would Have Today, 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. from 8 AM - 9 PM ET. However, the language in the response letter uses terms like "we are withholding documents that may be responsive" which Culper and co. are using to lead investors to the conclusion that such records do in fact exist and that an investigation into likely what Culper just detailed in their "report" is ongoing. Press question mark to learn the rest of the keyboard shortcuts. Invest better with The Motley Fool. Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. Redwood Scientific Technologies (parent company of RengaLife), Danielle Cadiz (a Redwood executive since December 2016), Advanced Mens Institute Prolongz LLC (Redwoods prior company name), Run Away Products LLC (New York company used to advertise Redwood products) and, Carols Place Limited Partnership (a related asset management limited partnership, owned by the Cardiffs). I bought this stock after Citron recommended it. A quick scroll through Culper's website yields very little in the way of personnel or address. Customer Service| Contact Us| culper research legitsan juan airport restaurants hours. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. About Us. It is our view that the Oklahoma revenue opportunity is just 1/28 th (1.6MM/45MM) of or 96% lower than what Berman intimated during the investor presentation.. REKR's first quarter 2021 earnings corroborate our view. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. Veru has a market capitalization of $750 million at $8.46 as of May 6. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. Among its raft of accusations, Culper wrote that the trial is significantly smaller than those conducted for other COVID drug candidates and demonstrated a worryingly high mortality rate. 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. 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. By downloading from or viewing material on this website you agree to the following Terms of Service. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. 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. But there are some warning signs here. 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. Are u selling or still holding? Like, within two days of the report, which just adds to the shadiness of the situation. At least we have some idea what the manipulation and block-trades that drove this down from $18 to $12 were (culper & friends getting into proper short position before dropping this report). Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. In the near term, anything can happen to a stock price. Don't miss the crucial news and insights you need to make informed legal decisions. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. While the short report is lengthy, here is part of what Culper said. I've never heard of an ad $ per website visit metric before and am not really sure it's value in any case. Cost basis and return based on previous market day close. Copyright 2023 Culper Research - All Rights Reserved. The Motley Fool has no position in any of the stocks mentioned. 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 .