Create an account to follow your favorite communities and start taking part in conversations. $10/person - Space is limited. The Motley Fool has a disclosure policy. The Motley Fool has a disclosure policy. Jan 21, 2021 1:53PM EST. 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. Five days later, the short report came public. 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. Is This Warren Buffett Stock a Buy After Its Dividend Boost? Honestly, we are letting them win with this plummeting over-reaction. In addition, these transactions were structured as asset purchases only and therefore the founders did not become employees of Aterian. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. It looks very bad . 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 . Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." 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. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. CleanSpark, Inc. Investor Relations(801) 244-4405[emailprotected], Cision Distribution 888-776-0942 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 . This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. 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. We reserve the right to block IP addresses that submit excessive requests. 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? Both options are priced the same. Invest better with The Motley Fool. 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. 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. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. TICKETED EVENTS on Culper Spy Day. 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. 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. 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. Did anyone read this? Copyright 2023 Culper Research - All Rights Reserved. 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. best hunting game for oculus quest 2 culper research legit. 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. However, the only problem is that there is a research report dated May 2 from a short-seller firm, Culper Research. 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. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . Customer Service| *Average returns of all recommendations since inception. Aterian issued a press release to respond to the short attack. Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; . Law.com Radar publishes daily updates on just-filed federal cases like this one. Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. Not a Bloomberg Law Subscriber?Subscribe Now. Agreed, this is pretty shitty but have to wait for the response. 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. Yes, it's horrible and I don't know what to do now. 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. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. LFMD responded to short report, denying the claims and will report something in detail soon. It stinks like a skunk to me, but Im not smart. Also, did you notice that there are now at least half a dozen law firms trolling for members to a class action lawsuit against Life? 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. While the short report is lengthy, here is part of what Culper said. He was the original owner of Roe Tavern in Setauket,N.Y. culper research legitmichelle fleury ancestry. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. *Average returns of all recommendations since inception. The researcher is also highly unimpressed with the executives guiding the company. 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. 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"). Theyre calculating that LFMD spends an average of $36 in marketing costs per webpage visitor for REXMD while HIMS spends an average of $2.14 per website visitor for its products . You should assume that Culper (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors has a position in any securities covered herein. On the other hand, the stock dropped 25% . Research is not investment advice nor a recommendation or solicitation to buy securities. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (" CleanSpark, or "the . For example, on April 11 Veru announced its Covid-19 drug brought down the mortality rate by 55% but the Culper report said that this was a manipulation of how high mortality rates were with Covid-19. Also, apparently, most of the patients in the study were outside of the U.S. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. Your article was successfully shared with the contacts you provided. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. what are you doing after this report? Pretty brutal. Published on June 1, 2022 June 3, 2022. 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? This makes them biased, of course, but no more biased than the shareholders who want the stock to go up. 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. 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.. For some reason, Jacob appears to be very opposed to crypto which may tie in to Culper's short attacks on $SOS, but that is pure speculation on my part. Veru has not yet officially responded to Culper's accusations, which are worrying. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. . 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. Do these allegations sound legitimate or a . 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. Site Map, Advertise| 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. 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. Create an account to follow your favorite communities and start taking part in conversations. 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. That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. 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. The Patriots (colonists) were fighting against the British, in this war. Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. 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. 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. Veru has a market capitalization of $750 million at $8.46 as of May 6. 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. 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. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. What Is the Best EV Stock to Buy Now? In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Apparently, this was not the case . Spying is a secret business and thus research into it is most difficult. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. All rights reserved. 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. 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. I'm hoping one of you all much smarter people could help here and maybe start to connect some of these dots to pull down the veil a bit from these shady scumbags. 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. This cant be right ? Skip to Main Content. Among its raft of accusations, Culper wrote that the trial is significantly smaller than those conducted for other COVID drug candidates and demonstrated a worryingly high mortality rate. 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. I bought calls just before market close yesterday lol fuck my life. What should investors make of the allegations brought forth by Culper Research? For example, if it has to redesign the study and start from scratch the costs could go up. Contact Us| 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%. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. 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 February 26, 2021, Hindenburg Research and Culper Research published reports regarding SOS Limited, alleging that the Company was a "pump and dump" scheme that used fake addresses and doctored . Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Not really sure how to end this post, but please let me know think. 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. And, the marketing expense for RexMD by Culper is just an "estimate". 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. The inclusion of forward-looking statements should not be regarded as a representation by CleanSpark that any of our plans will be achieved. We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. 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. 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. It's important to remember that there are two sides to every story. Use of Culper Research's ("Culper") research is at your own risk. Lorem ipsum dolor sit amet, consectetur adipiscing elit. In the near term, anything can happen to a stock price. 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. These statements are based on CleanSpark's current beliefs and expectations. 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? White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. All Rights Reserved. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. License our industry-leading legal content to extend your thought leadership and build your brand. Cost basis and return based on previous market day close. Toggle Navigation Hindenburg Research. 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. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. Value oriented and event driven investor. Nonetheless the six month delay in reporting is worrisome. 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. But they were not involved in any fraudulent activity. Tickets are limited. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. Note: We do not offer technical support for developing or debugging scripted downloading processes. Prosper Junior Bakiny has no position in any of the stocks mentioned. In a 10-tweet thread digesting the report and posted on Monday, Culper accused Veru of "glaring anomalies" in its phase 3 clinical trial of coronavirus drug sabizabulin. Yes, in the short term, a short attack on a small cap will often send shares down, and Aterian's stock has dropped 35% since the report came out. If you can't trust management, or its numbers, you really shouldn't be in a stock. 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. Copyright 2023 InvestorPlace Media, LLC. 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. 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. from 8 AM - 9 PM ET. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. 2023 InvestorPlace Media, LLC. 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. VERU stock remains an extremely risky bet today. Thank you for your interest in the U.S. Securities and Exchange Commission. 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. As incriminating as Culper Research's report looks, LifeMD could well have ready and convincing rebuttals to these accusations. 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. Target Stock is Down Nearly 40% From Its High. Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. Veru has a market capitalization of $750 million at $8.46 as of May 6. Does someone more knowledgeable than me have any insight into these numbers ? CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . This drop over the last month or so has torched like 9% of my portfolio, real quick. 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. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. Thus, we assign the incremental $18.0M to RexMD. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors.
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