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However, such information is presented as is, without warranty of any kind whether express or implied. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. The Motley Fool recommends Aterian, Inc. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. George Washington and the Culper Spy Ring - Stony Brook University Although we identified the historical legal concerns raised in the report, they were unrelated to the acquired businesses. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Culper Research Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. Core Scientific (NASDAQ: CORZ) fell 3.8% after a new short report from Culper Research. George Washington's Culper Spy Ring: Separating Fact from Fiction About Us. what are you doing after this report? ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . Why would the block trades be significantly lower than current stock price at the time? CleanSpark Investigating Short Seller Culper Research | Nasdaq On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. 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. 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. That's what happened to the shorts in the Gamestopfrenzy earlier this year. The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. Click to reserve your spot! 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. 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. 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. 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. 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 . The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. 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. Investors could turn away from the company in droves if the researcher's allegations have merit, however. Cost basis and return based on previous market day close. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Thus, we assign the incremental $18.0M to RexMD. Culper on Twitter Culper also . Copyright 2023 Culper Research - All Rights Reserved. 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. Culper is an anonymous short-seller that refuses to disclose the individuals or entities behind it. 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. Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. For that matter, changing the name of your company a week before a short attack might make people nervous, too. 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. CleanSpark Investigates Anonymous Short Seller. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. Research is not investment advice nor a recommendation or solicitation to buy securities. Five days later, the short report came public. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . Time to Buy? An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. The Motley Fool has a disclosure policy. CTO Pedretti - Co-Founded Airlight Energy, Which Went Bankrupt and Faces Fraud Accusations Prior to co -founding Energy . 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. Treace Medical plunges on new short report from Culper Research For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". The report . 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. Taylor Carmichael has no position in any of the stocks mentioned. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. Please. Veru Shares Move Lower; Culper Research Release Short Report On Stock $10/person - click to reserve your spot! 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? To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. 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. Eric Volkman has no position in any of the stocks mentioned. The two short-sellers claimed that SOS stock was an . *Average returns of all recommendations since inception. The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. Will Aterian stock recover from this short attack? Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. 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. Why Veru Stock Plummeted on Monday | The Motley Fool And 9380 has actually been buying more stock in Aterian since it was acquired by the company. Culper on Twitter Copyright 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. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic. Veru has a market capitalization of $750 million at $8.46 as of May 6. The Motley Fool has a disclosure policy. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. Use of Culper Research's ("Culper") research is at your own risk. VERU stock remains an extremely risky bet today. 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). That is because $36 includes all of company's business lines, not just RexMD. The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . About Us| . $10/person - Space is limited. I do wish to raise two issues: Rivington and my background. 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 . Investigation Alert: Kessler Topaz Meltzer & Check, LLP is To make the world smarter, happier, and richer. Pretty brutal. 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. All rights reserved. LFMD responded to short report, denying the claims and will report something in detail soon. 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. Press question mark to learn the rest of the keyboard shortcuts. Learn More. 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/. 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.. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. "We believe that the Company has vastly exaggerated the size of its EV charging network in order to siphon money from the pockets of investors to insiders. 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 . 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. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! 2023 InvestorPlace Media, LLC. 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. u/wallstreetbets crowd? 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. 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. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. A recent report by Culper Research contains numerous false and misleading statements about our company. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. To allow for equitable access to all users, SEC reserves the right to limit requests originating from undeclared automated tools. 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 Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . 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. 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. Veru Stock Could Face Difficulties If the Culper Research Report Is True 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. 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. 831 Words4 Pages. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. Please declare your traffic by updating your user agent to include company specific information. 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. On the other hand, shorts are always future buyers of your stock. 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 . To make the world smarter, happier, and richer. 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 . This cant be right ? This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. 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 . Copyright 2023 InvestorPlace Media, LLC. Telehealth Co. Accuses Short Sellers Of Defamation-For-Profit Read the complaint here: To view this content, please continue to their sites. Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; . On the other hand, the stock dropped 25% . 1125 N. Charles St, Baltimore, MD 21201. 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.". The publisher of this false . Short-Seller's Note is Short on Credibility, LifeMD Says How valuable are the assets if you can't trust the sales numbers? 10 czerwca 2022 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. 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.

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