Nonetheless the six month delay in reporting is worrisome. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. "We believe that the Company has vastly exaggerated the size of its EV charging network in order to siphon money from the pockets of investors to insiders. The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. Learn More. This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Site Map, Advertise| Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Toggle Navigation Hindenburg Research. CleanSpark Investigates Anonymous Short Seller. 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 . 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. However, such information is presented as is, without warranty of any kind whether express or implied. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. Why would the block trades be significantly lower than current stock price at the time? As we all learned today, Culper and its shady supporters aim to create a veil of legitimate entities conducting research which just so happens to uncover some form of fraud/scandal/etc. Target Stock is Down Nearly 40% From Its High. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. Is This Warren Buffett Stock a Buy After Its Dividend Boost? Both options are priced the same. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. 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 . 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. That could potentially be a turning point for Veru stock. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. 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. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . The Motley Fool has a disclosure policy. The publisher of this false . "LifeMD uses technology to make health care more accessible to people from all walks of life. The Motley Fool has a disclosure policy. We reserve the right to block IP addresses that submit excessive requests. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . The rather eclectic biotech -- it has a female contraceptive product, FC2, on the market, and is developing cancer drugs -- has attracted much interest because of the apparently promising sabizabulin. Investors should probably take this allegation with a grain of salt, as Culper Research is an anonymous outfit and the author of the report is a mystery. It is very clear that one of their tactics is to submit FOIA requests for information regarding investigations into companies they are attacking, which if you know the Freedom of Information Act, is information that would never be released to the public. what are you doing after this report? That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . Federal Judge: Lancaster Investment Firm, Executives Must Pay $2M in Civil Penalties, Restitution, Special Master in MoneyGram Feud at SCOTUS Has Surprise Change of Mind, In Jackson's First Majority Opinion, SCOTUS Curbs Delaware's Collection of Unclaimed Property, Class Action Accusing BOA of Inadequate Notice Before Reposessions Hits Federal Court, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Thank you for your interest in the U.S. Securities and Exchange Commission. "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." 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. 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. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. Press question mark to learn the rest of the keyboard shortcuts. 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. 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? On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. Create an account to follow your favorite communities and start taking part in conversations. Join The Legal Intelligencer now! 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 . Feel like going after another group of asshole short sellers trying to screw over us regular investors? 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. 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. 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. Law.com Radar publishes daily updates on just-filed federal cases like this one. For more information, visit https://ATL-DATA.com. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. 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. The report seems to imply that Veru will be another failure just like other drug companies the management has run. The Motley Fool has a disclosure policy. 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 . The researcher is also highly unimpressed with the executives guiding the company. Learn More. 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. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. If you can't trust management, or its numbers, you really shouldn't be in a stock. Our 3 Top Picks. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. 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. Cost basis and return based on previous market day close. But it burnt through almost $9 million in free cash flow (FCF) during its latest quarter ending Dec. 31., according to its 10-Q filing. Where This Leaves Investors in Veru Stock. Guys, this is a classic short attack. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I need to wait for management's response and the Q1 earnings release to really make an opinion on the merits of this short report. This suit was surfaced by Law.com Radar. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. WOW Very BOLD and INTENSE claims made by Culper Research about Blink Charging Fraud!! When typing in this field, a list of search results will appear and be automatically updated as you type. What kind of manipulation and block trades? In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. The Xometry Short Report. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. They do this behind a wall of relative anonymity which is curious given their apparent altruistic intentions of "protecting investors" would lend you to think they would want to be praised for their support for all the poor little guys like us. Following publication of any research, we intend to continue transacting in the securities covered herein, and we may be long, short, or neutral at any time hereafter regardless of our initial recommendation, conclusions, or opinions. Please. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. By using this site, you are agreeing to security monitoring and auditing. The second major issue the Culper report has with Veru is the quality of management. Verified account Protected Tweets @; Suggested users 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. 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. For example, the Culper Research report alleges the entire February 2020 acquisition of p2k Labs, Inc. is "another undisclosed related party transaction, as CleanSpark's CFO Lori Love is found . CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. While the short report is lengthy, here is part of what Culper said. 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 . The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." Sometimes when there is "blood in the water" other shorts will jump in as well. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Did they not look into this and see all this??? Were short sellers putting together a scam? 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. Don't miss the crucial news and insights you need to make informed legal decisions. Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. Pretty brutal. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. The Company also owns and operates a fleet of over 3,400 ASIC (application-specific integrated circuit) Bitcoin miners producing over 200 PH/s in mining capacity. Does someone more knowledgeable than me have any insight into these numbers ? Prosper Junior Bakiny has no position in any of the stocks mentioned. 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. Read the complaint here. 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 . Invest better with The Motley Fool. The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. Your article was successfully shared with the contacts you provided. Copyright In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. 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 . . Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? Here's what the company said in part. *Average returns of all recommendations since inception. Apparently, this was not the case . 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? Plaintiffs also allege that "on information and belief, Lamarco is the sole member of Culper Research; owns and controls Culper Research; and, at all relevant times, directed, authorized, and/or was responsible for false and defamatory statements made about, and tortious acts against, Plaintiffs by Culper Research." (ECF No. 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. Copyright 2023 InvestorPlace Media, LLC. The Motley Fool has no position in any of the stocks mentioned. 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. On July 21, 2022, shares of Energy Vault fell over 6% after Culper Research issued a report that calls into serious question the business and operations of the company. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. Honestly, we are letting them win with this plummeting over-reaction. The report points out two major issues: first, the Phase 3 Covid-19 study contains glaring issues, compounded by management misrepresentations.. 10 czerwca 2022 Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. That is because $36 includes all of company's business lines, not just RexMD. Time to Buy? 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. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Aterian (f.k.a. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (" CleanSpark, or "the . 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. No LFMD executives were charged. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". *Average returns of all recommendations since inception. Five days later, the short report came public. The publisher of this false report is an unknown entity or group hidden behind the facade of "Culper Research," which disguises the identity of the actual author(s). Like, within two days of the report, which just adds to the shadiness of the situation. 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. 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. Use of Culper Research's("Culper") research is at your own risk.

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