This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. Create an account to follow your favorite communities and start taking part in conversations. On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. 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). 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. 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. Also he was allowed to treat patients via telehealth telehealth while on probation (src). 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 . 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). That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. culper research legitsan juan airport restaurants hours. The company generated about $23,100 in revenue for the first half of 2021. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? 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. 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. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. 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. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. Verified account Protected Tweets @; Suggested users 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. . The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution Culper also . Did they not look into this and see all this??? "LifeMD uses technology to make health care more accessible to people from all walks of life. For more information, visit https://ATL-DATA.com. The publisher of this false . WOW Very BOLD and INTENSE claims made by Culper Research about Blink Charging Fraud!! The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. 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 . Note: We do not offer technical support for developing or debugging scripted downloading processes. CleanSpark Investigates Anonymous Short Seller. Like, within two days of the report, which just adds to the shadiness of the situation. A quick scroll through Culper's website yields very little in the way of personnel or address. Did these scumbags have any insider information? Target Stock is Down Nearly 40% From Its High. 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. CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Special Collections, a division of Stony Brook University Libraries (SBU Libraries) is the owner and steward of two American Revolutionary War-era, Culper Spy Ring letters authored by George Washington. CleanSpark Investigating Short Seller Culper Research. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The book talks about a group of spies known as the culper spy ring. And changing your chief financial officer in the midst of this doesn't exactly reassure. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Law.com Radar publishes daily updates on just-filed federal cases like this one. Managing Partner, Chief Investment Officer. Please disable your ad-blocker and refresh. In this conversation. The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. 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. For example, if it has to redesign the study and start from scratch the costs could go up. The points Culper makes are quite compelling and raise substantial questions about the history of the CEO, Mitchell Steiner, and the EVP of Clinical Affairs, Robert Getzenberg. 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. I'm hoping one of you all much smarter people could help here and maybe start to connect some of these dots to pull down the veil a bit from these shady scumbags. 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. u/wallstreetbets crowd? Veru has a market capitalization of $750 million at $8.46 as of May 6. 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. Making the world smarter, happier, and richer. The Motley Fool has no position in any of the stocks mentioned. Jan 21, 2021 1:53PM EST. The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. 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 . Accounting issues always cause stress for investors. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. 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? Some research into Culper Research. Were short sellers putting together a scam? The two short-sellers claimed that SOS stock was an . Eric Volkman has no position in any of the stocks mentioned. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. 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. 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. 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. All rights reserved. Veru has sales revenue from other medical assets it owns. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. What kind of manipulation and block trades? With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. 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. 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. Holders of short positions trade on an expected decline in the price of a stock. Thank you for your interest in the U.S. Securities and Exchange Commission. White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. culper research legitmichelle fleury ancestry. Is this a bad sign for your stock? Pretty brutal. Skip to Main Content. So let's take a look at what Culper is saying about Aterian. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. The Patriots hoped to gain freedom from Britain, liberty, and equality by winning the war. Copyright 2023 Culper Research - All Rights Reserved. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. Not a Bloomberg Law Subscriber?Subscribe Now. 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 . The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. Not only has Aterian has not disclosed that its largest acquisition was from a felon who served prison time, but despite 5 elapsed months, the Company has failed to provide audited financials for the Smash Assets, leaving its S-3 shelf filing ineligible. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! Copyright 2023 InvestorPlace Media, LLC. 1-2, 13). By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. The Patriots (colonists) were fighting against the British, in this war. 831 Words4 Pages. Veru has not yet officially responded to Culper's accusations, which are worrying. Click to reserve your spot! Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. Time to Buy? Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. This suit was surfaced by Law.com Radar. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! That's what happened to the shorts in the Gamestopfrenzy earlier this year. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. 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.". The problem is this is a highly speculative play for most investors. 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? 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. 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. quotes delayed at least 15 minutes, all others at least 20 minutes. To hide from slander cases, perhaps?). All Rights Reserved. Will Aterian stock recover from this short attack? Both options are priced the same. But that attitude raises a few questions. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. what are you doing after this report? Veru Inc. (VERU) fell 6.7% after Culper Research released another short report on the oncology-focused biopharmaceutical company.Culper alleged in the report that at baseline, the. According to the accounting firm, the numbers are fine. "We believe that the Company has . Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. At just 150 patients, the trial is a . Sucks. The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . 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. 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. 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 . 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. Invest better with The Motley Fool. To make the world smarter, happier, and richer. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. Culper is an anonymous short-seller that refuses to disclose the individuals or entities behind it. 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? $10/person - click to reserve your spot! Site Map, Advertise| But there are some warning signs here. Mohawk Group Holdings) was founded by . Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. These statements are based on CleanSpark's current beliefs and expectations. Yes and no. 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. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. This is set for next Tuesday, May 10. All rights reserved. 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. CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. 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. Sign up below to get this incredible offer! Here's what the company said in part. 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. Learn More. LFMD responded to short report, denying the claims and will report something in detail soon. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? 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 . The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. 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. Honestly, we are letting them win with this plummeting over-reaction. Use of Culper Research's ("Culper") research is at your own risk. Don't miss the crucial news and insights you need to make informed legal decisions. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Our 3 Top Picks. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. 2023 InvestorPlace Media, LLC. 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. It seems clear to us that this report is an attempt by a short seller to negatively impact . An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. We look for stocks with the potential for big moves in the near future up or down. If you have an ad-blocker enabled you may be blocked from proceeding. On the other hand, shorts are always future buyers of your stock. Toggle Navigation Hindenburg Research. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). 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. Learn More. But they were not involved in any fraudulent activity. 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. 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. 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. 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). *Average returns of all recommendations since inception. 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. 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 . Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. CTO Pedretti - Co-Founded Airlight Energy, Which Went Bankrupt and Faces Fraud Accusations Prior to co -founding Energy . Does someone more knowledgeable than me have any insight into these numbers ? "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." Read the complaint here: To view this content, please continue to their sites. Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. Press question mark to learn the rest of the keyboard shortcuts. Is this happening to you frequently? The Xometry Short Report. 1001 and 1030). The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." By downloading from or viewing material on this website you agree to the following Terms of Service. The report points out two major issues: first, the Phase 3 Covid-19 study contains glaring issues, compounded by management misrepresentations.. 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. 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. Is This Warren Buffett Stock a Buy After Its Dividend Boost? Invest better with The Motley Fool. 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? ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Cost basis and return based on previous market day close. 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.
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