This suit was surfaced by Law.com Radar. The Xometry Short Report. In the near term, anything can happen to a stock price. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. Both options are priced the same. 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. CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . Managing Partner, Chief Investment Officer. That is because $36 includes all of company's business lines, not just RexMD. 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. 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. What Is the Best EV Stock to Buy Now? 2023 InvestorPlace Media, LLC. 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. 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 Company will vigorously and relentlessly defend itself against these actions and against the kind of baseless accusations made by those behind the "report." These statements are based on CleanSpark's current beliefs and expectations. Copyright 2023 InvestorPlace Media, LLC. This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. Use of Culper Research's ("Culper") research is at your own risk. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. All rights reserved. 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. 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. 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? Verified account Protected Tweets @; Suggested users On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. Click to reserve your spot! 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. On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. 831 Words4 Pages. 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. CTO Pedretti - Co-Founded Airlight Energy, Which Went Bankrupt and Faces Fraud Accusations Prior to co -founding Energy . Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. 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. Target Stock is Down Nearly 40% From Its High. More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. 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. 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! 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. Create an account to follow your favorite communities and start taking part in conversations. Invest better with The Motley Fool. 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 . Tickets are limited. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. 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. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. Holders of short positions trade on an expected decline in the price of a stock. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. The Motley Fool has no position in any of the stocks mentioned. 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). But there are some warning signs here. 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 . We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. 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. All Rights Reserved. Veru has a market capitalization of $750 million at $8.46 as of May 6. That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. 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. Use of Culper Research's ("Culper") research is at your own risk. Cost basis and return based on previous market day close. 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. Why would the block trades be significantly lower than current stock price at the time? LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. "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." 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. 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. 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. On the other hand, the stock dropped 25% . Copyright 2023 Culper Research - All Rights Reserved. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. That's what happened to the shorts in the Gamestopfrenzy earlier this year. 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. Under Mr. Cook's . I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. In December 2020, Aterian purchased 9380 Macarthur LLC ("the Smash Assets") from (a) convicted felonwho also appears to be late on $4.1 million of taxes to the State of California. CleanSpark Investigates Anonymous Short Seller. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. 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. Further, Culper Research thinks LifeMD is engaged in fraudulent and illegal activities that are similar to those of Redwood Scientific, a company that faced severe legal penalties at the hands of the U.S. Federal Trade Commission (FTC) back in 2018. Veru has a market capitalization of $750 million at $8.46 as of May 6. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. Will Aterian stock recover from this short attack? 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. It seems clear to us that this report is an attempt by a short seller to negatively impact . Contact Us| Investors could turn away from the company in droves if the researcher's allegations have merit, however. 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. 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. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. By the end of December, when Core filed for Chapter 11 bankruptcy, the firm's stock had plummeted by more than 98%.. Nonetheless the six month delay in reporting is worrisome. Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. *Average returns of all recommendations since inception. 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. 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. Your article was successfully shared with the contacts you provided. This is set for next Tuesday, May 10. Please declare your traffic by updating your user agent to include company specific information. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. "We believe that the Company has . Eric Volkman has no position in any of the stocks mentioned. 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. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. 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. All rights reserved. Not only has Aterian has not disclosed that its largest acquisition was from a felon who served prison time, but despite 5 elapsed months, the Company has failed to provide audited financials for the Smash Assets, leaving its S-3 shelf filing ineligible. 1125 N. Charles St, Baltimore, MD 21201. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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. About Us| He was the original owner of Roe Tavern in Setauket,N.Y. However, such information is presented as is, without warranty of any kind whether express or implied. On October 31, 2019, Culper Research published a scathing report detailing reasons Culper Research believes the Company's internal review "was a farce, and shares are ultimately worthless." The problem is this is a highly speculative play for most investors. 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. 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). They short the company, post these reports, and reap the benefits of people over reacting. 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. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. CleanSpark Investigating Short Seller Culper Research. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. 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. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. culper research legitmichelle fleury ancestry. 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. 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). Sometimes when there is "blood in the water" other shorts will jump in as well. 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. Five days later, the short report came public. And 9380 has actually been buying more stock in Aterian since it was acquired by the company. 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. The report . Pretty brutal. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn 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. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. The Motley Fool recommends Aterian, Inc. A recent report by Culper Research contains numerous false and misleading statements about our company. 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. 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 through its cash. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . By downloading from or viewing material on this website you agree to the following Terms of Service. 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. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. 1001 and 1030). Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. I have not but wouldn't it stand to reason that a smaller company entering the space would need to spend more to build brand awareness? 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. what are you doing after this report? The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . Reference ID: 0.9d8f1402.1677945178.3b82c472. 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. Use of Culper Research's("Culper") research is at your own risk. u/wallstreetbets crowd? Is this happening to you frequently? The report seems to imply that Veru will be another failure just like other drug companies the management has run. 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. On the other hand, shorts are always future buyers of your stock. 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. The Patriots (colonists) were fighting against the British, in this war. Note: We do not offer technical support for developing or debugging scripted downloading processes. Use of Culper Research's ("Culper") research is at your own risk. Press question mark to learn the rest of the keyboard shortcuts. "LifeMD uses technology to make health care more accessible to people from all walks of life. 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. What kind of manipulation and block trades? In its report, Culper Research makes a series of claims concerning LifeMD, its executives, and its operations which, if true, could be devastating to the healthcare company and its shareholders. Use of Culper Research's ("Culper") research is at your own risk. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. The two short-sellers claimed that SOS stock was an . In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. The Motley Fool has a disclosure policy. Invest better with The Motley Fool. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. 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. 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. Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. 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. 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 . Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. 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). In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Taylor Carmichael has no position in any of the stocks mentioned. Docent led tours every 30 minutes of the Spies! 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. Miracle Cures and Murder For Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". 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.