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For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". 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. 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 . Are u selling or still holding? Cost basis and return based on previous market day close. When typing in this field, a list of search results will appear and be automatically updated as you type. Read the complaint here. Docent led tours every 30 minutes of the Spies! By downloading from or viewing material on this website you agree to the following Terms of Service. Pretty brutal. Im holding on to see the company response. The report . But they were not involved in any fraudulent activity. 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. 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. Apparently, this was not the case . On May 4, an anonymous short seller, "Culper Research," launched an attack on Aterian (ATER), a company that uses artificial intelligence to find, acquire, and launch popular consumer goods businesses. 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 . Read the complaint here: To view this content, please continue to their sites. The report seems to imply that Veru will be another failure just like other drug companies the management has run. 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. License our industry-leading legal content to extend your thought leadership and build your brand. The Xometry Short Report. 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. Join The Legal Intelligencer now! At just 150 patients, the trial is a . 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. Thank you for your interest in the U.S. Securities and Exchange Commission. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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? Yes, it's horrible and I don't know what to do now. Sometimes when there is "blood in the water" other shorts will jump in as well. WOW Very BOLD and INTENSE claims made by Culper Research about Blink Charging Fraud!! 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. 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. So let's take a look at what Culper is saying about Aterian. Time to Buy? By downloading from or viewing material on this website you agree to the following Terms of Service. 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. 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. And changing your chief financial officer in the midst of this doesn't exactly reassure. Not a Bloomberg Law Subscriber?Subscribe Now. According to the accounting firm, the numbers are fine. They short the company, post these reports, and reap the benefits of people over reacting. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Please disable your ad-blocker and refresh. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. 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. This research guide has detailed information about the university's two Washington letters and provides pathways to research materials on the spy ring. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? 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. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? 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. 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. Making the world smarter, happier, and richer. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Cost basis and return based on previous market day close. 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. To make the world smarter, happier, and richer. This drop over the last month or so has torched like 9% of my portfolio, real quick. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK ), ("CleanSpark, or "the Company"), an advanced software and controls technology solutions company focused on solving . By the end of December, when Core filed for Chapter 11 bankruptcy, the firm's stock had plummeted by more than 98%.. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. Learn More. 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. The Motley Fool has a disclosure policy. I've never heard of an ad $ per website visit metric before and am not really sure it's value in any case. However, the only problem is that there is a research report dated May 2 from a short-seller firm, Culper Research. Skip to Main Content. 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. 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. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. Culper describes Xometry as "an increasingly commoditized middleman for engineers and tinkerers seeking prototyping and small run parts," a description that matches our recent piece on Distributed Manufacturing - A Case Study Unfolding. They have a financial motivation for doing so -- they want the stock price to go down. 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. 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.. For example, if it has to redesign the study and start from scratch the costs could go up. All Rights Reserved. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. Is this happening to you frequently? 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. 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. 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. culper research legitmichelle fleury ancestry. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. In this conversation. Press question mark to learn the rest of the keyboard shortcuts. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. Value oriented and event driven investor. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. TICKETED EVENTS on Culper Spy Day. To other RS execs were laundering money (husband and wife). How valuable are the assets if you can't trust the sales numbers? Accounting issues always cause stress for investors. About Us. 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. 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. However, such information is presented as is, without warranty of any kind whether express or implied. 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). 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. The Motley Fool recommends Aterian, Inc. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. 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%. 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. Copyright 2023 InvestorPlace Media, LLC. But there are some warning signs here. Aterian (f.k.a. To make the world smarter, happier, and richer. Use of Culper Research's ("Culper") research is at your own risk. 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 . For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team. 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. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. 1001 and 1030). Learn More. Does someone more knowledgeable than me have any insight into these numbers ? We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. Will Aterian stock recover from this short attack? 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. 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. Veru has not yet officially responded to Culper's accusations, which are worrying. from 8 AM - 9 PM ET. LFMD responded to short report, denying the claims and will report something in detail soon. 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.". For more information, visit https://ATL-DATA.com. 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. *Average returns of all recommendations since inception. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! If you have an ad-blocker enabled you may be blocked from proceeding. 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 . "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 problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. *Average returns of all recommendations since inception. 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? 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. Did these scumbags have any insider information? 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. Veru has sales revenue from other medical assets it owns. Use of Culper Research's("Culper") research is at your own risk. 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. 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. 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. 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. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. In the near term, anything can happen to a stock price. 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 . 831 Words4 Pages. 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. 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 . Copyright 2023 ALM Global, LLC. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. Site Map, Advertise| Looking at the relevant FOIA request logs on the SEC website suggests an individual named Jacob Ma-Weaver twitter linkedin acting on behalf of what appears to be his short-selling fund Cable Car Capital LLC. For more information, please see the SECs Web Site Privacy and Security Policy. 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. 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 . $10/person - click to reserve your spot! 1-2, 13). 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. On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. 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 . These statements are based on CleanSpark's current beliefs and expectations. The Motley Fool has a disclosure policy. culper research legitsan juan airport restaurants hours. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. Prosper Junior Bakiny has no position in any of the stocks mentioned. For example, the Culper Research report alleges the entire February 2020 acquisition of p2k Labs, Inc. is "another undisclosed related party transaction, as CleanSpark's CFO Lori Love is found . In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . The problem is this is a highly speculative play for most investors. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. The Motley Fool has no position in any of the stocks mentioned. Feel like going after another group of asshole short sellers trying to screw over us regular investors? The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . 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. 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. Where This Leaves Investors in Veru Stock. Published on June 1, 2022 June 3, 2022. Eric Volkman has no position in any of the stocks mentioned. 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. 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. 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. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. Veru has a market capitalization of $750 million at $8.46 as of May 6. Plaintiffs also allege that "on information and belief, Lamarco is the sole member of Culper Research; owns and controls Culper Research; and, at all relevant times, directed, authorized, and/or was responsible for false and defamatory statements made about, and tortious acts against, Plaintiffs by Culper Research." (ECF No. "LifeMD uses technology to make health care more accessible to people from all walks of life. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Five days later, the short report came public. That request was submitted in December 2020 and according to the SEC FOIA request logs, was done so by a Jeff Bourland linkedin on behalf of an unknown entity, perhaps the "Family Office" listed on his Linkedin. Copyright 2023 Culper Research - All Rights Reserved. Don't miss the crucial news and insights you need to make informed legal decisions. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. We reserve the right to block IP addresses that submit excessive requests. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. 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. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. Making the world smarter, happier, and richer. Invest better with The Motley Fool. Our Team Account subscription service is for legal teams of four or more attorneys. 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. I bought this stock after Citron recommended it. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. 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. The Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." Some research into Culper Research. The Patriots (colonists) were fighting against the British, in this war. Credit Solution Experts Incorporated offers quality business credit building services, which includes an easy step-by-step system designed for helping clients build their business credit effortlessly. 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 . 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). Research is not investment advice nor a recommendation or solicitation to buy securities. On April 29, the company rebranded from Mohawk Group Holdings to Aterian. Honestly, we are letting them win with this plummeting over-reaction. Nasdaq 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. 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. 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. 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. 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. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! 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. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). Sucks. Reference ID: 0.9d8f1402.1677945178.3b82c472. Investors could turn away from the company in droves if the researcher's allegations have merit, however. best hunting game for oculus quest 2 culper research legit. Customer Service| CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States.