Plaintiffs also allege that "on information and belief, Lamarco is the sole member of Culper Research; owns and controls Culper Research; and, at all relevant times, directed, authorized, and/or was responsible for false and defamatory statements made about, and tortious acts against, Plaintiffs by Culper Research." (ECF No. Press question mark to learn the rest of the keyboard shortcuts. It seems clear to us that this report is an attempt by a short seller to negatively impact . That request was submitted in December 2020 and according to the SEC FOIA request logs, was done so by a Jeff Bourland linkedin on behalf of an unknown entity, perhaps the "Family Office" listed on his Linkedin. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! Your article was successfully shared with the contacts you provided. 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. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. 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. In this conversation. 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. Does someone more knowledgeable than me have any insight into these numbers ? 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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/. If you have an ad-blocker enabled you may be blocked from proceeding. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. The report . Press question mark to learn the rest of the keyboard shortcuts. Nonetheless the six month delay in reporting is worrisome. Veru has sales revenue from other medical assets it owns. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. Use of Culper Research's ("Culper") research is at your own risk. Under Mr. Cook's . | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. But that attitude raises a few questions. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Why would the block trades be significantly lower than current stock price at the time? A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. 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. 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. Time to Buy? Here's what the company said in part. Accounting issues always cause stress for investors. Tickets are limited. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (" CleanSpark, or "the . Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. "LifeMD uses technology to make health care more accessible to people from all walks of life. 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 . While the short report is lengthy, here is part of what Culper said. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. 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. Not really sure how to end this post, but please let me know think. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. How valuable are the assets if you can't trust the sales numbers? Taylor Carmichael has no position in any of the stocks mentioned. 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. 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. 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? Guys, this is a classic short attack. Honestly, we are letting them win with this plummeting over-reaction. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). culper research legitsan juan airport restaurants hours. Our Team Account subscription service is for legal teams of four or more attorneys. The Patriots (colonists) were fighting against the British, in this war. The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. 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. Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. Investors might want to watch out. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? 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. ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . Learn More. 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. 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. 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. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. 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. Eric Volkman has no position in any of the stocks mentioned. 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. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any . All rights reserved. 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"). Yes, the two executives were at Redwood Scientific. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. what are you doing after this report? 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. 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. 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. The Culper Spy Ring was assembled in 1778 by Major Benjamin Tallmadge (alias, John Bolton/721) at the request of General George Washington (711) and operated on Long Island (728) and New York City (727) during the . 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. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . On the other hand, shorts are always future buyers of your stock. 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 $66 Billion in 4 Years, 2 Stocks That Are About to Make Their Shareholders Richer, Join Over Half a Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. Between the Hindenburg "Report" (a series of tweets), some firm called Culper Research (who seems to have a mediocre track record), and multiple YouTube videos, investors have a lot to consider. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. The publisher of this false . The problem is this is a highly speculative play for most investors. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? 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). 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%. 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. All rights reserved. The Motley Fool has no position in any of the stocks mentioned.