The publisher of this false . Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. *Average returns of all recommendations since inception. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. 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). I bought this stock after Citron recommended it. Is this a bad sign for your stock? lifeguard air ambulance new mexico hassan has plastic surgery hassan has plastic surgery LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. 1125 N. Charles St, Baltimore, MD 21201. Target Stock is Down Nearly 40% From Its High. This suit was surfaced by Law.com Radar. "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." Published on June 1, 2022 June 3, 2022. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. 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). Is this happening to you frequently? The researcher is also highly unimpressed with the executives guiding the company. 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. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. 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 . Press question mark to learn the rest of the keyboard shortcuts. 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. 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. 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? VERU stock remains an extremely risky bet today. This implies that it could end up wasting a lot of its cash if the Phase 3 clinical study is not successful in obtaining FDA EUA approval. Im holding on to see the company response. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Research is not investment advice nor a recommendation or solicitation to buy securities. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn Use of Culper Research's ("Culper") research is at your own risk. 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/. Holders of short positions trade on an expected decline in the price of a stock. Just another manipulative scare tactic that I wouldn't be surprised if they use against LifeMD next. 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. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. All Rights Reserved. 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. So the names of the defendants in the lawsuit against Redwood were as follows. 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. Law.com Radar publishes daily updates on just-filed federal cases like this one. But there are some warning signs here. 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. 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. The Motley Fool has a disclosure policy. The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Agreed, this is pretty shitty but have to wait for the response. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. 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. Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. But they were not involved in any fraudulent activity. 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. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. 1-2, 13). 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 . ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. Reference ID: 0.9d8f1402.1677945178.3b82c472. Pretty brutal. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. 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. We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. exhibit at the Three Village Historical Society. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? Veru has a market capitalization of $750 million at $8.46 as of May 6. The report seems to imply that Veru will be another failure just like other drug companies the management has run. I've never heard of an ad $ per website visit metric before and am not really sure it's value in any case. 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. 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. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. 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. This cant be right ? Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. By using this site, you are agreeing to security monitoring and auditing. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Taylor Carmichael has no position in any of the stocks mentioned. 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. "We believe that the Company has . 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. . 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. 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. 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. Guys, this is a classic short attack. White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. Yes and no. Spying is a secret business and thus research into it is most difficult. This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. The Patriots hoped to gain freedom from Britain, liberty, and equality by winning the war. 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. 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%. Our 3 Top Picks. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. 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? Culper also . Yes, it's horrible and I don't know what to do now. Docent led tours every 30 minutes of the Spies! I do wish to raise two issues: Rivington and my background. The report points out two major issues: first, the Phase 3 Covid-19 study contains glaring issues, compounded by management misrepresentations.. Growing Mineola firm with national practice seeks associate (with 3-6 years experience) to handle complex general liability matters.Competit CASH KRUGLER & FREDERICKS LLC is Celebrating Our 20th Anniversary & Newest Partners! The Motley Fool has no position in any of the stocks mentioned. Jan 21, 2021 1:53PM EST. The Culper Spy Rings was a spy network started by George Washington to get information about the British, during the Revolutionary War. Please declare your traffic by updating your user agent to include company specific information. 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. I bought calls just before market close yesterday lol fuck my life. 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. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. On the other hand, the stock dropped 25% . Is This Warren Buffett Stock a Buy After Its Dividend Boost? If Justin and Stefan were involved in anyway they would have been on the list of named defendants. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. All rights reserved. Under Mr. Cook's . 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 . However, such information is presented as is, without warranty of any kind whether express or implied. On Wall Street, H.C. Wainwright dropped Blink Charging to a Neutral rating from Buy last week on a valuation call that did not allude to any wrongdoing at the company.. 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. So let's take a look at what Culper is saying about Aterian. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The Patriots (colonists) were fighting against the British, in this war. For questions call 1-877-256-2472 or contact us at [emailprotected], Shearman and Hogan Lovells Call Off Merger Talks, Early Reports: 2023 Am Law 200 Financials, Beyond Excess Capacity, Pooled Services and Automation Expedite Staff Layoffs, Dozens of Law Firms Grew Their Equity Partner Tier, Even as Profits and Demand Plummeted. 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. Research is not investment advice nor a recommendation or solicitation to buy securities. Making the world smarter, happier, and richer. Aterian (f.k.a. Honestly, we are letting them win with this plummeting over-reaction. LFMD responded to short report, denying the claims and will report something in detail soon. 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 . Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. LFMD execs were not involved, and left the company. The Motley Fool recommends Aterian, Inc. Use of Culper Research's("Culper") research is at your own risk. 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. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Invest better with The Motley Fool. 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. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. What kind of manipulation and block trades? 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. Why would the block trades be significantly lower than current stock price at the time? Prosper Junior Bakiny has no position in any of the stocks mentioned. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Did they not look into this and see all this??? 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. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. 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. 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. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). 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. What Is the Best EV Stock to Buy Now? I did some deeper digging though using SEC FOIA request logs and Culper's own posts on twitter in an attempt to pull back the curtain a bit. Copyright 2023 InvestorPlace Media, LLC. 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. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. Sign up below to get this incredible offer! 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. The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. He was the original owner of Roe Tavern in Setauket,N.Y. For accurate information about the Company, Shareholders should refer to the Company's disclosure documents filed with U.S. Securities and Exchange Commission, which are available online under the Company's EDGAR profile atwww.sec.govor on the Investor Relations tab of the Company's website atwww.CleanSpark.com.