Create an account to follow your favorite communities and start taking part in conversations. 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. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. 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/. Copyright 2023 InvestorPlace Media, LLC. Did they not look into this and see all this??? Yes, it's horrible and I don't know what to do now. If you have an ad-blocker enabled you may be blocked from proceeding. Thank you for your interest in the U.S. Securities and Exchange Commission. 1-2, 13). 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. 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. 10 czerwca 2022 They short the company, post these reports, and reap the benefits of people over reacting. We look for stocks with the potential for big moves in the near future up or down. Investors should probably take this allegation with a grain of salt, as Culper Research is an anonymous outfit and the author of the report is a mystery. 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. The book talks about a group of spies known as the culper spy ring. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. 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. 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. 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). However, the language in the response letter uses terms like "we are withholding documents that may be responsive" which Culper and co. are using to lead investors to the conclusion that such records do in fact exist and that an investigation into likely what Culper just detailed in their "report" is ongoing. 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. 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. These statements are based on CleanSpark's current beliefs and expectations. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! 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? This research guide has detailed information about the university's two Washington letters and provides pathways to research materials on the spy ring. 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. 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. 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. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. Verified account Protected Tweets @; Suggested users Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. u/wallstreetbets crowd? 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. Even more recently, yesterday April 13 actually, Culper tweeted the response from the SEC regarding a March 2021 FOIA request for information pertaining to any investigations into SOS, Ltd., $SOS. Here's what the company said in part. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any information on this site. The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. 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. If you can't trust management, or its numbers, you really shouldn't be in a stock. Veru (VERU -35.98%) has found itself the target of a short-seller, and as a result the biotech company's shares took a more than 12% hit on an otherwise upbeat Monday for the wider stock market. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. culper research legitmichelle fleury ancestry. "LifeMD uses technology to make health care more accessible to people from all walks of life. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . 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. 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 . The Patriots hoped to gain freedom from Britain, liberty, and equality by winning the war. About Us. Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. Eric Volkman has no position in any of the stocks mentioned. Terms of Service. Invest better with The Motley Fool. 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. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. To make the world smarter, happier, and richer. quotes delayed at least 15 minutes, all others at least 20 minutes. 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. On April 29, the company rebranded from Mohawk Group Holdings to Aterian. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. 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. This response seems to concede that the company acquired the business from somebody convicted of crimes ("we identified the historical legal concerns raised in the report"), but that it judged the information irrelevant ("unrelated to the acquired businesses"). The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. On Friday, Hindenburg Research and Culper Research released scathing reports on SOS Ltd (NYSE: SOS ), a Chinese cryptocurrency mining company. 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. 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. We reserve the right to block IP addresses that submit excessive requests. 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. 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 . Click to reserve your spot! Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. That could potentially be a turning point for Veru stock. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. 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). Time to Buy? The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. 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. Read the complaint here: To view this content, please continue to their sites. Five days later, the short report came public. According to the accounting firm, the numbers are fine. 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 case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. However, such information is presented as is, without warranty of any kind whether express or implied. 1125 N. Charles St, Baltimore, MD 21201. Please declare your traffic by updating your user agent to include company specific information. CleanSpark Investigating Short Seller Culper Research. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. Culper also . When typing in this field, a list of search results will appear and be automatically updated as you type. But there are some warning signs here. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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. For example, the Culper Research report alleges the entire February 2020 acquisition of p2k Labs, Inc. is "another undisclosed related party transaction, as CleanSpark's CFO Lori Love is found . 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. Did these scumbags have any insider information? Why would the block trades be significantly lower than current stock price at the time? As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. Alpilean creator (Zach Miller) and medical research editor (Dr. Matthew Gibbs) medically concluded that the longest-lived people on the planet use a "secret trick" on the Alpine ice every night. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. 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. 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. The apparent purpose of the Culper Research "report" is to cover or profit from the publisher's short positions in the Company, which the publisher expressly acknowledges holding in the report itself. Where This Leaves Investors in Veru Stock. Contact Us| The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. Value oriented and event driven investor. What kind of manipulation and block trades? Is this happening to you frequently? How valuable are the assets if you can't trust the sales numbers? Do these allegations sound legitimate or a . The publisher of this false . It looks very bad . Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. Veru Stock Could Face Difficulties If the Culper Research Report Is True. Making the world smarter, happier, and richer. I bought this stock after Citron recommended it. He was the original owner of Roe Tavern in Setauket,N.Y. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. "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. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. The report points out two major issues: first, the Phase 3 Covid-19 study contains glaring issues, compounded by management misrepresentations.. 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. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. Women, Influence & Power in Law UK Awards 2023, Legalweek Leaders in Tech Law Awards 2023, WORKERS COMPENSATION ATTORNEY - Hartford, CT, Offering an Opportunity of a Lifetime for Personal Injury Lawyers, What Does Your Business Agreement Really Mean? It's important to remember that there are two sides to every story. 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. 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. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. best hunting game for oculus quest 2 culper research legit. 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. 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. 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.". *Average returns of all recommendations since inception. The second major issue the Culper report has with Veru is the quality of management. Agreed, this is pretty shitty but have to wait for the response. 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. 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. Tickets are limited. Holders of short positions trade on an expected decline in the price of a stock. Research is not investment advice nor a recommendation or solicitation to buy securities. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Sign up below to get this incredible offer! About Us| 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. 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 . To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. 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The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution 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. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. CleanSpark, Inc. Investor Relations(801) 244-4405[emailprotected], Cision Distribution 888-776-0942 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. This drop over the last month or so has torched like 9% of my portfolio, real quick. Note: We do not offer technical support for developing or debugging scripted downloading processes. Invest better with The Motley Fool. 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. Making the world smarter, happier, and richer. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Culper is an anonymous short-seller that refuses to disclose the individuals or entities behind it. In the near term, anything can happen to a stock price. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . Are u selling or still holding? 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. 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 .