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All rights reserved. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. No LFMD executives were charged. culper research legitsan juan airport restaurants hours. CleanSpark Investigates Anonymous Short Seller. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. Some research into Culper Research. The short is also correct that the 9380 lockup expires in June, which means that Aterian's biggest shareholder will be free to start selling shares that were acquired for pennies. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. Please. 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. 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). Use of Culper Research's ("Culper") research is at your own risk. For more information, contact opendata@sec.gov. 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. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Thank you for your interest in the U.S. Securities and Exchange Commission. This is set for next Tuesday, May 10. We look for stocks with the potential for big moves in the near future up or down. TICKETED EVENTS on Culper Spy Day. But that attitude raises a few questions. For example, if it has to redesign the study and start from scratch the costs could go up. 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. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Verified account Protected Tweets @; Suggested users The Patriots (colonists) were fighting against the British, in this war. 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 book talks about a group of spies known as the culper spy ring. That is because $36 includes all of company's business lines, not just RexMD. 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. 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). 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. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? I bought this stock after Citron recommended it. Investors could turn away from the company in droves if the researcher's allegations have merit, however. Research is not investment advice nor a recommendation or solicitation to buy securities. But there are some warning signs here. 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. 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. The Motley Fool has a disclosure policy. About 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. The report seems to imply that Veru will be another failure just like other drug companies the management has run. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. 1125 N. Charles St, Baltimore, MD 21201. ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . Our Team Account subscription service is for legal teams of four or more attorneys. Published on June 1, 2022 June 3, 2022. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. They short the company, post these reports, and reap the benefits of people over reacting. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. 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. Im holding on to see the company response. 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/. For that matter, changing the name of your company a week before a short attack might make people nervous, too. Is this happening to you frequently? The Motley Fool has a disclosure policy. 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. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". 2023 InvestorPlace Media, LLC. 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. By downloading from or viewing material on this website you agree to the following Terms of Service. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. On April 29, the company rebranded from Mohawk Group Holdings to Aterian. 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. Will Aterian stock recover from this short attack? 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. License our industry-leading legal content to extend your thought leadership and build your brand. 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. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. Feel like going after another group of asshole short sellers trying to screw over us regular investors? 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. Veru has a market capitalization of $750 million at $8.46 as of May 6. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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.. Reddit and its partners use cookies and similar technologies to provide you with a better experience. These statements are based on CleanSpark's current beliefs and expectations. For more information, please see the SECs Web Site Privacy and Security Policy. What should investors make of the allegations brought forth by Culper Research? 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 . Join The Legal Intelligencer now! That's what happened to the shorts in the Gamestopfrenzy earlier this year. Taylor Carmichael has no position in any of the stocks mentioned. That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. 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. 1125 N. Charles St, Baltimore, MD 21201. 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. WOW Very BOLD and INTENSE claims made by Culper Research about Blink Charging Fraud!! 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. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? So the names of the defendants in the lawsuit against Redwood were as follows. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. 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. Copyright 2023 ALM Global, LLC. 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. Do these allegations sound legitimate or a . 831 Words4 Pages. If you can't trust management, or its numbers, you really shouldn't be in a stock. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. Create an account to follow your favorite communities and start taking part in conversations. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn Copyright 2023 InvestorPlace Media, LLC. 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. More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. 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. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. 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. 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. Veru has a market capitalization of $750 million at $8.46 as of May 6. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. 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. 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? 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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). Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. Veru has not yet officially responded to Culper's accusations, which are worrying. *Average returns of all recommendations since inception. 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. The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. 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. 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. Don't miss the crucial news and insights you need to make informed legal decisions. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. If any provision of these Terms of Service is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties intentions as reflected in the provision and rule that the other provisions of these Terms of Service remain in full force and effect, in particular as to this governing law and jurisdiction provision. Making the world smarter, happier, and richer. Your article was successfully shared with the contacts you provided. Reference ID: 0.9d8f1402.1677945178.3b82c472. I do wish to raise two issues: Rivington and my background. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Are u selling or still holding? Apparently, this was not the case . It's important to remember that there are two sides to every story. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. To make the world smarter, happier, and richer. Even more recently, yesterday April 13 actually, Culper tweeted the response from the SEC regarding a March 2021 FOIA request for information pertaining to any investigations into SOS, Ltd., $SOS. The Culper Spy Rings was a spy network started by George Washington to get information about the British, during the Revolutionary War. 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? 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. Press question mark to learn the rest of the keyboard shortcuts. Theres even room for more lines. quotes delayed at least 15 minutes, all others at least 20 minutes. Did these scumbags have any insider information? 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. 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. Learn More. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a 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%. In addition, these transactions were structured as asset purchases only and therefore the founders did not become employees of Aterian. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. Yes, the two executives were at Redwood Scientific. Sucks. *Average returns of all recommendations since inception. Docent led tours every 30 minutes of the Spies! 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. Use of Culper Research's ("Culper") research is at your own risk. LFMD responded to short report, denying the claims and will report something in detail soon. 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 . In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. In 5 minutes of searching, you can see they take partial truths and exaggerate them. We also invite anyone who has any information regarding the persons or entities behind Culper Research to contact the Company at the Investor Relations email address or contact number provided below. 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. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. 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 . Shares of healthcare services provider LifeMD (LFMD 1.68%) are plunging on Wednesday and were down by 22.3% as of 3:45 p.m. EDT. When typing in this field, a list of search results will appear and be automatically updated as you type. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. 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. Skip to Main Content. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business, including, without limitation: the successful deployment energy solution on the project, the fitness of our energy software and solutions for this particular application or market, the expectations of future revenue growth may not be realized, ongoing demand for our software products and related services, the impact of global pandemics (including COVID-19) on the demand for our products and services; and other risks described in our prior press releases and in our filings with the Securities and Exchange Commission (SEC), including under the heading "Risk Factors" in our Annual Report on Form 10-K and any subsequent filings with the SEC. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. Use of Culper Research's("Culper") research is at your own risk. The researcher is also highly unimpressed with the executives guiding the company. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? 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." The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. 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. 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. 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. Prosper Junior Bakiny has no position in any of the stocks mentioned. The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution That's $100 million you paid. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. . Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. 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. What kind of manipulation and block trades? 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. exhibit at the Three Village Historical Society. Not really sure how to end this post, but please let me know think. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? However, LifeMD's shares will likely be highly volatile now that this report is out there, and I'd think twice about initiating a position in this healthcare stock anytime soon. 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. Eric Volkman has no position in any of the stocks mentioned. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . 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. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. 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. For more information, visit https://ATL-DATA.com. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. Is This Warren Buffett Stock a Buy After Its Dividend Boost? This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. 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. Law.com Radar publishes daily updates on just-filed federal cases like this one. On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. 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"). Culper also . The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." Use of Culper Research's("Culper") research is at your own risk. 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. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. The Motley Fool recommends Aterian, Inc. That could potentially be a turning point for Veru stock. And 9380 has actually been buying more stock in Aterian since it was acquired by the company.