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1-2, 13). LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. 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. Eric Volkman has no position in any of the stocks mentioned. The Culper Spy Rings was a spy network started by George Washington to get information about the British, during the Revolutionary War. Join The Legal Intelligencer now! In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Veru has not yet officially responded to Culper's accusations, which are worrying. Yes and no. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. When typing in this field, a list of search results will appear and be automatically updated as you type. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Site Map, Advertise| Some research into Culper Research. By downloading from or viewing material on this website you agree to the following Terms of Service. I do wish to raise two issues: Rivington and my background. Yes, it works for cancers, but it does the same to all normal tissue. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. *Average returns of all recommendations since inception. Where This Leaves Investors in Veru Stock. The Motley Fool has a disclosure policy. Accounting issues always cause stress for investors. Published on June 1, 2022 June 3, 2022. 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. 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. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. CleanSpark Investigating Short Seller Culper Research. what are you doing after this report? An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. 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? Culper is an anonymous short-seller that refuses to disclose the individuals or entities behind it. Rivington's association with Culper Jr., and Jr.'s association into the New York City British social environment, clearly places them in contact and since Rivington subsequently provided the British Naval . TICKETED EVENTS on Culper Spy Day. The Patriots hoped to gain freedom from Britain, liberty, and equality by winning the war. Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. 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? 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. Target Stock is Down Nearly 40% From Its High. 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 . On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. 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. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. These statements are based on CleanSpark's current beliefs and expectations. 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. And changing your chief financial officer in the midst of this doesn't exactly reassure. 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. . The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. 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. At just 150 patients, the trial is a . To hide from slander cases, perhaps?). Copyright 2023 InvestorPlace Media, LLC. Thus, we assign the incremental $18.0M to RexMD. 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 . For more information, please see the SECs Web Site Privacy and Security Policy. The publisher of this false . One concern is that the t otal a ddressable m arket ( TAM) for all forms of . It seems clear to us that this report is an attempt by a short seller to negatively impact . 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 . 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. 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. 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. Aterian (f.k.a. The Motley Fool has no position in any of the stocks mentioned. (On March 8 the company appointed Arturo Rodriguez to succeed Fabrice Hamaide in the position.) 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. Holders of short positions trade on an expected decline in the price of a stock. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Tickets are limited. 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. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Press question mark to learn the rest of the keyboard shortcuts. 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. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? A quick scroll through Culper's website yields very little in the way of personnel or address. That's $100 million you paid. 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 . While the short report is lengthy, here is part of what Culper said. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. They have a financial motivation for doing so -- they want the stock price to go down. The Motley Fool has a disclosure policy. *Average returns of all recommendations since inception. Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; . 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. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. 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. Is this a bad sign for your stock? Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. 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. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. The researcher is also highly unimpressed with the executives guiding the company. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. So the names of the defendants in the lawsuit against Redwood were as follows. Our 3 Top Picks. Research is not investment advice nor a recommendation or solicitation to buy securities. Just another manipulative scare tactic that I wouldn't be surprised if they use against LifeMD next. Invest better with The Motley Fool. On the other hand, shorts are always future buyers of your stock. 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 . Invest better with The Motley Fool. This cant be right ? 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. 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. VERU stock remains an extremely risky bet today. For more information, contact opendata@sec.gov. What kind of manipulation and block trades? It looks very bad . That could potentially be a turning point for Veru stock. 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. Skip to Main Content. 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. That is because $36 includes all of company's business lines, not just RexMD. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). 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. Managing Partner, Chief Investment Officer. Do these allegations sound legitimate or a . 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. 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. Is this happening to you frequently? best hunting game for oculus quest 2 culper research legit. Five days later, the short report came public. 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. About Us| Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Did they not look into this and see all this??? No LFMD executives were charged. 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. 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/. Pretty brutal. 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. 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 http://www.culperresearch.com The failure of Culper to exercise or enforce any right or provision of these Terms of Service shall not constitute a waiver of this right or provision. 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 . 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. Why would the block trades be significantly lower than current stock price at the time? Read the complaint here: To view this content, please continue to their sites. That's what happened to the shorts in the Gamestopfrenzy earlier this year. 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 modern energy challenges, has become aware of a report making false accusations against CleanSpark and its officers. 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. To make the world smarter, happier, and richer. 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 example, if it has to redesign the study and start from scratch the costs could go up. Thank you for your interest in the U.S. Securities and Exchange Commission. Redwood Scientific Technologies (parent company of RengaLife), Danielle Cadiz (a Redwood executive since December 2016), Advanced Mens Institute Prolongz LLC (Redwoods prior company name), Run Away Products LLC (New York company used to advertise Redwood products) and, Carols Place Limited Partnership (a related asset management limited partnership, owned by the Cardiffs). 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. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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! 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. CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . Reference ID: 0.9d8f1402.1677945178.3b82c472. 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. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. 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. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Did anyone read this? Yes, the two executives were at Redwood Scientific. Customer Service| 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 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. 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). Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Copyright 2023 Culper Research - All Rights Reserved. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. Investors might want to watch out. Cost basis and return based on previous market day close. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . 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. *Average returns of all recommendations since inception. The two short-sellers claimed that SOS stock was an . By downloading from or viewing material on this website you agree to the following Terms of Service. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. For more information, visit https://ATL-DATA.com. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. 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. They short the company, post these reports, and reap the benefits of people over reacting. The historical nonfiction book i read was titled "George Washington's Secret Six" and it was written by Brian Kilmeade and Don Yaeger. Use of Culper Research's("Culper") research is at your own risk. WOW Very BOLD and INTENSE claims made by Culper Research about Blink Charging Fraud!! This research guide has detailed information about the university's two Washington letters and provides pathways to research materials on the spy ring. 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. 10 czerwca 2022 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. Note: We do not offer technical support for developing or debugging scripted downloading processes. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . If you have an ad-blocker enabled you may be blocked from proceeding. 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. We reserve the right to block IP addresses that submit excessive requests. LFMD execs were not involved, and left the company. 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. The second major issue the Culper report has with Veru is the quality of management. 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. Docent led tours every 30 minutes of the Spies! 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. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Does someone more knowledgeable than me have any insight into these numbers ? 831 Words4 Pages. On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. 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 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. exhibit at the Three Village Historical Society. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). The report seems to imply that Veru will be another failure just like other drug companies the management has run. 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. The book talks about a group of spies known as the culper spy ring. Making the world smarter, happier, and richer. I bought calls just before market close yesterday lol fuck my life. 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 $15 strike that I bought just before market close yesterday. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. "LifeMD uses technology to make health care more accessible to people from all walks of life. Use of Culper Research's ("Culper") research is at your own risk. 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? 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.". quotes delayed at least 15 minutes, all others at least 20 minutes. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. In the tweet thread, Culper wrote that "Veru's top ranks harbor a history of alleged sham science, failure, and misrepresentation" and are "a team of alleged frauds and failures who now tout a COVID-19 drug.". 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. Terms of Service. Create an account to follow your favorite communities and start taking part in conversations. 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). Our Team Account subscription service is for legal teams of four or more attorneys. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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%. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). 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. Use of Culper Research's ("Culper") research is at your own risk. Nonetheless the six month delay in reporting is worrisome. This suit was surfaced by Law.com Radar. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 2023 InvestorPlace Media, LLC. 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. Copyright 2023 ALM Global, LLC. To other RS execs were laundering money (husband and wife). 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.

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