By the end of December, when Core filed for Chapter 11 bankruptcy, the firm's stock had plummeted by more than 98%.. 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.". 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. Also he was allowed to treat patients via telehealth telehealth while on probation (src). The report seems to imply that Veru will be another failure just like other drug companies the management has run. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. Where This Leaves Investors in Veru Stock. And changing your chief financial officer in the midst of this doesn't exactly reassure. 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. Did they not look into this and see all this??? 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. 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. 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. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. 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? More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. We look for stocks with the potential for big moves in the near future up or down. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. Culper Research, an activist short-seller that in its words "seek[s] to expose companies which have misrepresented their operations, failed to disclose significant risks, misappropriated capital, possess accounting irregularities, or otherwise deceived investors," published a blistering report on its short position in Veru. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. In the near term, anything can happen to a stock price. However, the only problem is that there is a research report dated May 2 from a short-seller firm, Culper Research. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. License our industry-leading legal content to extend your thought leadership and build your brand. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. That is because $36 includes all of company's business lines, not just RexMD. He was the original owner of Roe Tavern in Setauket,N.Y. What Is the Best EV Stock to Buy Now? 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. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. 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. It's important to remember that there are two sides to every story. 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. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . Veru has sales revenue from other medical assets it owns. The researcher is also highly unimpressed with the executives guiding the company. CleanSpark Investigates Anonymous Short Seller. 1-2, 13). 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 . 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. The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. Eric Volkman has no position in any of the stocks mentioned. Copyright 2023 InvestorPlace Media, LLC. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. Invest better with The Motley Fool. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Blink Charging (NASDAQ: BLNK) trades lower after short seller Culper Research calls the company a scheme to pillage minority investors to the benefit of insiders. 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. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . These statements are based on CleanSpark's current beliefs and expectations. 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. exhibit at the Three Village Historical Society. 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. While the short report is lengthy, here is part of what Culper said. CTO Pedretti - Co-Founded Airlight Energy, Which Went Bankrupt and Faces Fraud Accusations Prior to co -founding Energy . 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. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . Use of Culper Research's("Culper") research is at your own risk. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. What should investors make of the allegations brought forth by Culper Research? 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. 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. 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. what are you doing after this report? 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." 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 . 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%. 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. *Average returns of all recommendations since inception. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. No LFMD executives were charged. Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. For example, if it has to redesign the study and start from scratch the costs could go up. 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. 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. (On March 8 the company appointed Arturo Rodriguez to succeed Fabrice Hamaide in the position.) 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 . What Joseph L. Rini Knows, Attorney Rachel Y. Marshall A Pillar of Strength for the Community, SpotDraft Raises $26 Million in Series A Funding for AI-Powered Legal Software. Spying is a secret business and thus research into it is most difficult. The Motley Fool has a disclosure policy. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. 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 . That's $100 million you paid. Learn More. 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. Federal Judge: Lancaster Investment Firm, Executives Must Pay $2M in Civil Penalties, Restitution, Special Master in MoneyGram Feud at SCOTUS Has Surprise Change of Mind, In Jackson's First Majority Opinion, SCOTUS Curbs Delaware's Collection of Unclaimed Property, Class Action Accusing BOA of Inadequate Notice Before Reposessions Hits Federal Court, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 2023 InvestorPlace Media, LLC. Reference ID: 0.9d8f1402.1677945178.3b82c472. TICKETED EVENTS on Culper Spy Day. Apparently, this was not the case . 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. 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. 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). To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. To make the world smarter, happier, and richer. 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. Please disable your ad-blocker and refresh. All Rights Reserved. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. At just 150 patients, the trial is a . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. 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 . For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". Do these allegations sound legitimate or a . "LifeMD uses technology to make health care more accessible to people from all walks of life. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. Law.com Radar publishes daily updates on just-filed federal cases like this one. Learn More. 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. Lawyers at Cozen OConnor on Thursday removed a defamation lawsuit against Culper Research and owner Christian Matthew Lamarco to Pennsylvania Western District Court. 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. To make the world smarter, happier, and richer. CleanSpark takes seriously any accusations of impropriety, stands behind its prior statements and disclosures, and will not tolerate unfounded and reckless claims against the Company. Mohawk Group Holdings) was founded by . Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). 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. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. 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 two short-sellers claimed that SOS stock was an . culper research legitsan juan airport restaurants hours. Copyright 2023 ALM Global, LLC. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. This drop over the last month or so has torched like 9% of my portfolio, real quick. 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. Holders of short positions trade on an expected decline in the price of a stock. Thus, we assign the incremental $18.0M to RexMD. *Average returns of all recommendations since inception. I bought calls just before market close yesterday lol fuck my life. 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. 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. Verified account Protected Tweets @; Suggested users The Xometry Short Report. Invest better with The Motley Fool. Published on June 1, 2022 June 3, 2022. 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. Sucks. Skip to Main Content. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. Did anyone read this? 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 . 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 . Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? 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. 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/. 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. To other RS execs were laundering money (husband and wife). Research is not investment advice nor a recommendation or solicitation to buy securities. "We believe that the Company has . Create an account to follow your favorite communities and start taking part in conversations. CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. Learn More. Press question mark to learn the rest of the keyboard shortcuts. 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. 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. The Patriots hoped to gain freedom from Britain, liberty, and equality by winning the war. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. Read the complaint here. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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 . CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. best hunting game for oculus quest 2 culper research legit. Like, within two days of the report, which just adds to the shadiness of the situation. Criminal Allegations, and an ICO Scam . 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. The problem is this is a highly speculative play for most investors. Did these scumbags have any insider information? And, the marketing expense for RexMD by Culper is just an "estimate". 1125 N. Charles St, Baltimore, MD 21201. 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. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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 . On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). The Motley Fool has a disclosure policy. Why would the block trades be significantly lower than current stock price at the time? This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Not really sure how to end this post, but please let me know think. 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. 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.