Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. 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. Copyright Mohawk Group Holdings) was founded by . The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. Use of Culper Research's ("Culper") research is at your own risk. A quick scroll through Culper's website yields very little in the way of personnel or address. Aterian (f.k.a. 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. We reserve the right to block IP addresses that submit excessive requests. Is this happening to you frequently? 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. 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. Do these allegations sound legitimate or a . What should investors make of the allegations brought forth by Culper Research? culper research legitsan juan airport restaurants hours. 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. Learn More. More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. 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. On the other hand, shorts are always future buyers of your stock. Agreed, this is pretty shitty but have to wait for the response. 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). Invest better with The Motley Fool. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. Click to reserve your spot! 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. Under Mr. Cook's . Veru Stock Could Face Difficulties If the Culper Research Report Is True. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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). 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. 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. Were short sellers putting together a scam? It looks very bad . Also he was allowed to treat patients via telehealth telehealth while on probation (src). 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. 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. 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. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Veru has not yet officially responded to Culper's accusations, which are worrying. Alpilean creator (Zach Miller) and medical research editor (Dr. Matthew Gibbs) medically concluded that the longest-lived people on the planet use a "secret trick" on the Alpine ice every night. Learn More. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. 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. 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. 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. Apparently, this was not the case . 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. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . 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. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. License our industry-leading legal content to extend your thought leadership and build your brand. Terms of Service. 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. 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. However, such information is presented as is, without warranty of any kind whether express or implied. 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. 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"). Reddit and its partners use cookies and similar technologies to provide you with a better experience. Law.com Radar publishes daily updates on just-filed federal cases like this one. 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? 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. CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. 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. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . The Motley Fool has no position in any of the stocks mentioned. The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. Value oriented and event driven investor. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Copyright 2023 InvestorPlace Media, LLC. 10 czerwca 2022 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. Toggle Navigation Hindenburg Research. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. TICKETED EVENTS on Culper Spy Day. Not really sure how to end this post, but please let me know think. The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 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.". Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. 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. CleanSpark, Inc. Investor Relations(801) 244-4405[emailprotected], Cision Distribution 888-776-0942 Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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? Yes, the two executives were at Redwood Scientific. If you can't trust management, or its numbers, you really shouldn't be in a stock. 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. Will Aterian stock recover from this short attack? I took a deep look into the Culper Research short report and this is what I found.Culper Research short report on Core Scientifichttps://img1.wsimg.com/blobb. 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/. And, the marketing expense for RexMD by Culper is just an "estimate". *Average returns of all recommendations since inception. 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). The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. 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. Cost basis and return based on previous market day close. Aterian issued a press release to respond to the short attack. lifeguard air ambulance new mexico hassan has plastic surgery hassan has plastic surgery 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 . I bought calls just before market close yesterday lol fuck my life. CleanSpark has retained the law firm of Wilk Auslander LLP in connection with this matter and will be vigilant in investigating the sources of these misrepresentations, including the identity of those veiled behind the entity calling itself Culper Research. from 8 AM - 9 PM ET. That's $100 million you paid. Here's what the company said in part. 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. 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. About Us| I like pain so I'm holding and also bought 400 more shares at $9, sitting at 2,000 shares now with a $16 cost basis, plus August calls with $15 strike that I bought just before market close yesterday. Please disable your ad-blocker and refresh. 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. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. Holders of short positions trade on an expected decline in the price of a stock. Reference ID: 0.9d8f1402.1677945178.3b82c472. The Motley Fool has a disclosure policy. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. Like, within two days of the report, which just adds to the shadiness of the situation. Investors might want to watch out. They short the company, post these reports, and reap the benefits of people over reacting. 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. 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. The Xometry Short Report. The Patriots (colonists) were fighting against the British, in this war. The company generated about $23,100 in revenue for the first half of 2021. Investors could turn away from the company in droves if the researcher's allegations have merit, however. "LifeMD uses technology to make health care more accessible to people from all walks of life. About Us. Also, apparently, most of the patients in the study were outside of the U.S. Did these scumbags have any insider information? Five days later, the short report came public. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. I guess my last point is - how much of yesterday's decline is attributed to a short report from a company with a terrible track record vs. attributed to why the stock has declined between the earnings and short 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. 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 http://www.culperresearch.com The failure of Culper to exercise or enforce any right or provision of these Terms of Service shall not constitute a waiver of this right or provision. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Our 3 Top Picks. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. No LFMD executives were charged. Yes and no. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. According to documents Aterian filed with the SEC on April 29, 9380 Macarthur does indeed own almost 5 million shares, or 16.2% of the company. Invest better with The Motley Fool. But there are some warning signs here. Use of Culper Research's ("Culper") research is at your own risk. Press question mark to learn the rest of the keyboard shortcuts. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. Guys, this is a classic short attack. 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 . Copyright 2023 ALM Global, LLC. So the names of the defendants in the lawsuit against Redwood were as follows. However, such information is presented as is, without warranty of any kind whether express or implied. Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. That is because $36 includes all of company's business lines, not just RexMD. Eric Volkman has no position in any of the stocks mentioned. But that attitude raises a few questions. 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. Create an account to follow your favorite communities and start taking part in conversations. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. "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. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. 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. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? Note: We do not offer technical support for developing or debugging scripted downloading processes. 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.". Criminal Allegations, and an ICO Scam . Thank you for your interest in the U.S. Securities and Exchange Commission. . 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 . While the short report is lengthy, here is part of what Culper said. 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. 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? u/wallstreetbets crowd? White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn 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. 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. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. Making the world smarter, happier, and richer. (On March 8 the company appointed Arturo Rodriguez to succeed Fabrice Hamaide in the position.) 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. 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. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. In the near term, anything can happen to a stock price. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (" CleanSpark, or "the . 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.. Learn More. 1001 and 1030). Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. 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. By the end of December, when Core filed for Chapter 11 bankruptcy, the firm's stock had plummeted by more than 98%.. 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 members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . Im holding on to see the company response. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. 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. what are you doing after this report? 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 second major issue the Culper report has with Veru is the quality of management. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? CleanSpark Investigates Anonymous Short Seller. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. 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). 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. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. For that matter, changing the name of your company a week before a short attack might make people nervous, too. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. 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. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. The report seems to imply that Veru will be another failure just like other drug companies the management has run. 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. 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. 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. Site Map, Advertise| The problem is this is a highly speculative play for most investors. They have a financial motivation for doing so -- they want the stock price to go down. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. We are aware that litigation premised on the so-called "Culper Report" has been filed and that plaintiff's firms are trolling for additional shareholders. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. So let's take a look at what Culper is saying about Aterian. 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. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control.