LFMD execs were not involved, and left the company. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). No LFMD executives were charged. The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." 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. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. Nasdaq According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. 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). 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. Skip to Main Content. For more information, contact opendata@sec.gov. 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"). Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. 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. According to the accounting firm, the numbers are fine. Yes, it's horrible and I don't know what to do now. 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. 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. Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. Create an account to follow your favorite communities and start taking part in conversations. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any . What Is the Best EV Stock to Buy Now? Prosper Junior Bakiny has no position in any of the stocks mentioned. Nonetheless the six month delay in reporting is worrisome. 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/. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. Join The Legal Intelligencer now! 10 czerwca 2022 In addition, these transactions were structured as asset purchases only and therefore the founders did not become employees of Aterian. 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.. CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. All Rights Reserved. 2023 InvestorPlace Media, LLC. The Xometry Short Report. 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. Apparently, this was not the case . In its report, Culper Research makes a series of claims concerning LifeMD, its executives, and its operations which, if true, could be devastating to the healthcare company and its shareholders. Is This Warren Buffett Stock a Buy After Its Dividend Boost? To hide from slander cases, perhaps?). Do these allegations sound legitimate or a . On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. Press question mark to learn the rest of the keyboard shortcuts. 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. Cost basis and return based on previous market day close. u/wallstreetbets crowd? 1-2, 13). 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. $10/person - Space is limited. Use of Culper Research's ("Culper") research is at your own risk. The Culper Spy Rings was a spy network started by George Washington to get information about the British, during the Revolutionary War. And changing your chief financial officer in the midst of this doesn't exactly reassure. 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). Copyright 2023 ALM Global, LLC. 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. It seems clear to us that this report is an attempt by a short seller to negatively impact . How valuable are the assets if you can't trust the sales numbers? Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? It is our view that the Oklahoma revenue opportunity is just 1/28 th (1.6MM/45MM) of or 96% lower than what Berman intimated during the investor presentation.. REKR's first quarter 2021 earnings corroborate our view. what are you doing after this report? 831 Words4 Pages. Terms of Service. I bought this stock after Citron recommended it. 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. 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 . 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.". 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. 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? CleanSpark Investigating Short Seller Culper Research. Guys, this is a classic short attack. 1125 N. Charles St, Baltimore, MD 21201. Making the world smarter, happier, and richer. 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. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. Copyright 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. The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. 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 . Accounting issues always cause stress for investors. "Tomorrow's report features two felons, two alleged scam artists, a CEO with a failed crypto hustle, and what we think is a wildly overhyped, deteriorating business facing existential risk." The Motley Fool has a disclosure policy. 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. Aterian (f.k.a. The two short-sellers claimed that SOS stock was an . 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. best hunting game for oculus quest 2 culper research legit. We reserve the right to block IP addresses that submit excessive requests. $10/person - click to reserve your spot! 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. 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. 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. Criminal Allegations, and an ICO Scam . 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. The Motley Fool has a disclosure policy. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. To make the world smarter, happier, and richer. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. If you have an ad-blocker enabled you may be blocked from proceeding. "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. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Under Mr. Cook's . The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. The researcher is also highly unimpressed with the executives guiding the company. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Not a Bloomberg Law Subscriber?Subscribe Now. 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. Pretty brutal. The Motley Fool has no position in any of the stocks mentioned. . Lorem ipsum dolor sit amet, consectetur adipiscing elit. Our 3 Top Picks. White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. Read the complaint here: To view this content, please continue to their sites. 1001 and 1030). 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. Did these scumbags have any insider information? Your article was successfully shared with the contacts you provided. On October 31, 2019, Culper Research published a scathing report detailing reasons Culper Research believes the Company's internal review "was a farce, and shares are ultimately worthless." 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. 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. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. It looks very bad . CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. 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. 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. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. 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. Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. Blink claims that 'EV drivers can easily charge at any of its 15,000 charging stations,' but we estimate the Companys functional public charging station network consists of just 2,192 stations, a mere 15% of this claim.". 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. Read the complaint here. 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. 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. Veru has not yet officially responded to Culper's accusations, which are worrying. About Us| exhibit at the Three Village Historical Society. 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. 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? Press question mark to learn the rest of the keyboard shortcuts. When typing in this field, a list of search results will appear and be automatically updated as you type. LexisNexis and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. "We believe that the Company has . The report . For more information, visit https://ATL-DATA.com. The report seems to imply that Veru will be another failure just like other drug companies the management has run. Here's what the company said in part. 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. To make the world smarter, happier, and richer. While the short report is lengthy, here is part of what Culper said. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. 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%. Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. The problem is this is a highly speculative play for most investors. Like, within two days of the report, which just adds to the shadiness of the situation. 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. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. Docent led tours every 30 minutes of the Spies! LFMD responded to short report, denying the claims and will report something in detail soon. He was the original owner of Roe Tavern in Setauket,N.Y. Click to reserve your spot! 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 . The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. 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. Veru has a market capitalization of $750 million at $8.46 as of May 6. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. About Us. The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. Will Aterian stock recover from this short attack? 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. 1125 N. Charles St, Baltimore, MD 21201. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. 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 . 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. Did they not look into this and see all this??? Use of Culper Research's("Culper") research is at your own risk. 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. 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. Yes, in the short term, a short attack on a small cap will often send shares down, and Aterian's stock has dropped 35% since the report came out. That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. Reference ID: 0.9d8f1402.1677945178.3b82c472. culper research legitsan juan airport restaurants hours. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? 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. Only bright sides I can see are that none of the allegations suggest that the revenue is fake, so were still talking about a company poised to do $90M in rev this year, and that management will know theyre under a microscope and should be incentivized to clean up their act. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Cost basis and return based on previous market day close. 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 . Tickets are limited. 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. 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. Toggle Navigation Hindenburg Research. I bought calls just before market close yesterday lol fuck my life. 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. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. The second major issue the Culper report has with Veru is the quality of management. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Our Team Account subscription service is for legal teams of four or more attorneys. Some research into Culper Research. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. This drop over the last month or so has torched like 9% of my portfolio, real quick. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. The company generated about $23,100 in revenue for the first half of 2021. In the near term, anything can happen to a stock price. Making the world smarter, happier, and richer. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. But that attitude raises a few questions. 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 . Yes, it works for cancers, but it does the same to all normal tissue. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. 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. 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. Verified account Protected Tweets @; Suggested users Copyright 2023 InvestorPlace Media, LLC. Time to Buy? Investors might want to watch out. "LifeMD uses technology to make health care more accessible to people from all walks of life. Value oriented and event driven investor. Create an account to follow your favorite communities and start taking part in conversations. Both options are priced the same. You agree that regardless of any statute or law to the contrary, any claim or cause of action arising out of or related to use of this website or the material herein must be filed within one (1) year after such claim or cause of action arose or be forever barred. 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 legitmichelle fleury ancestry. 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. If you can't trust management, or its numbers, you really shouldn't be in a stock. Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. The historical nonfiction book i read was titled "George Washington's Secret Six" and it was written by Brian Kilmeade and Don Yaeger. Im holding on to see the company response. 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 . An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. For more information, please see the SECs Web Site Privacy and Security Policy. Also he was allowed to treat patients via telehealth telehealth while on probation (src). 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. What should investors make of the allegations brought forth by Culper Research? 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. 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 tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. Target Stock is Down Nearly 40% From Its High. Where This Leaves Investors in Veru Stock. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. We look for stocks with the potential for big moves in the near future up or down. 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more.
