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 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. We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. On the other hand, shorts are always future buyers of your stock. 5 Hypergrowth Stocks With 10X Potential in 2023, Robert Bollinger: Meet the Man Behind Mullens Push Into Commercial EVs, A.I. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? culper research legitsan juan airport restaurants hours. 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. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. To other RS execs were laundering money (husband and wife). 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. 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. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? For questions call 1-877-256-2472 or contact us at [emailprotected], Shearman and Hogan Lovells Call Off Merger Talks, Early Reports: 2023 Am Law 200 Financials, Beyond Excess Capacity, Pooled Services and Automation Expedite Staff Layoffs, Dozens of Law Firms Grew Their Equity Partner Tier, Even as Profits and Demand Plummeted. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. Not really sure how to end this post, but please let me know think. He was the original owner of Roe Tavern in Setauket,N.Y. Like, within two days of the report, which just adds to the shadiness of the situation. 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. 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. If you can't trust management, or its numbers, you really shouldn't be in a stock. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. 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. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. (On March 8 the company appointed Arturo Rodriguez to succeed Fabrice Hamaide in the position.) 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? 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. *Average returns of all recommendations since inception. On April 29, the company rebranded from Mohawk Group Holdings to Aterian. Copyright 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. 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. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Invest better with The Motley Fool. from 8 AM - 9 PM ET. 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. CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. In the near term, anything can happen to a stock price. 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. Making the world smarter, happier, and richer. 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. Read the complaint here. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. Veru has not yet officially responded to Culper's accusations, which are worrying. Nasdaq Published. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. However, the only problem is that there is a research report dated May 2 from a short-seller firm, Culper Research. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. The Motley Fool has no position in any of the stocks mentioned. 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. "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. This research guide has detailed information about the university's two Washington letters and provides pathways to research materials on the spy ring. 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. License our industry-leading legal content to extend your thought leadership and build your brand. Theres even room for more lines. 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. 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? That's what happened to the shorts in the Gamestopfrenzy earlier this year. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. 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. The short is also correct that the 9380 lockup expires in June, which means that Aterian's biggest shareholder will be free to start selling shares that were acquired for pennies. 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? The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. The researcher is also highly unimpressed with the executives guiding the company. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn Invest better with The Motley Fool. 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 . Nonetheless the six month delay in reporting is worrisome. Jan 21, 2021 1:53PM EST. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." If you have an ad-blocker enabled you may be blocked from proceeding. Investors could turn away from the company in droves if the researcher's allegations have merit, however. The opinions expressed in this article are those of the writer, subject to theInvestorPlace.comPublishing Guidelines. When typing in this field, a list of search results will appear and be automatically updated as you type. 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 . Veru has sales revenue from other medical assets it owns. Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. Time to Buy? Yes, it works for cancers, but it does the same to all normal tissue. Under Mr. Cook's . 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. "We believe that the Company has . CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . Does someone more knowledgeable than me have any insight into these numbers ? So let's take a look at what Culper is saying about Aterian. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. Law.com Radar publishes daily updates on just-filed federal cases like this one. It's important to remember that there are two sides to every story. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . 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 . 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 industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. 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 problem is it has just $116.1 million in cash as of Dec. 31 and is burning . 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.