Pretty brutal. *Average returns of all recommendations since inception. 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. The industry-leading media platform offering competitive intelligence to prepare for today and anticipate opportunities for future success. TICKETED EVENTS on Culper Spy Day. Reference ID: 0.9d8f1402.1677945178.3b82c472. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Making the world smarter, happier, and richer. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? Please disable your ad-blocker and refresh. 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. No LFMD executives were charged. 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. Aterian issued a press release to respond to the short attack. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. 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. 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. In the tweet thread, Culper wrote that "Veru's top ranks harbor a history of alleged sham science, failure, and misrepresentation" and are "a team of alleged frauds and failures who now tout a COVID-19 drug.". Yes, it's horrible and I don't know what to do now. White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. CLEANSPARK INVESTIGATING SHORT SELLER CULPER RESEARCH . 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 . Culper alleges that Core Scientific "wildly oversold" both its mining and hosting business. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any . Investors might want to watch out. 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). 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. Terms of Service. The publisher of this false . 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. 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. 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. 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. Law.com Radar publishes daily updates on just-filed federal cases like this one. 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. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Will Aterian stock recover from this short attack? 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? Please. 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 . 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. 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. $10/person - Space is limited. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. That short-seller didn't mince words about its concerns with the company, which clearly left investors quite spooked about its future. On the other hand, the stock dropped 25% . 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. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. What Joseph L. Rini Knows, Attorney Rachel Y. Marshall A Pillar of Strength for the Community, SpotDraft Raises $26 Million in Series A Funding for AI-Powered Legal Software. 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. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Veru has a market capitalization of $750 million at $8.46 as of May 6. 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. This is set for next Tuesday, May 10. . For more information, visit https://ATL-DATA.com. 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.. 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. CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. But that attitude raises a few questions. What should investors make of the allegations brought forth by Culper Research? Under Mr. Cook's . That is because $36 includes all of company's business lines, not just RexMD. Research Materials about George Washington, the Culper Spy Ring, and the American Revolutionary War. 1125 N. Charles St, Baltimore, MD 21201. For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. That's what happened to the shorts in the Gamestopfrenzy earlier this year. 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. 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 . Invest better with The Motley Fool. 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 . 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. | Learn more about Christian Lamarco's work experience, education, connections & more by visiting their profile on LinkedIn 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. I bought calls just before market close yesterday lol fuck my life. Aterian (f.k.a. Docent led tours every 30 minutes of the Spies! 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. Invest better with The Motley Fool. Just another manipulative scare tactic that I wouldn't be surprised if they use against LifeMD next. In addition, these transactions were structured as asset purchases only and therefore the founders did not become employees of Aterian. However, such information is presented as is, without warranty of any kind whether express or implied. 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). Five days later, the short report came public. I do wish to raise two issues: Rivington and my background. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. Investors could turn away from the company in droves if the researcher's allegations have merit, however. Tickets are limited. The Motley Fool has no position in any of the stocks mentioned. Here's what the company said in part. The Motley Fool has a disclosure policy. 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. what are you doing after this report? The company did not report any news, but these losses are a result of a short-seller report issued by investigative research firm Culper Research. 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. 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. However, such information is presented as is, without warranty of any kind whether express or implied. Do these allegations sound legitimate or a . 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. Copyright 2023 InvestorPlace Media, LLC. Learn More. Culper also . Press question mark to learn the rest of the keyboard shortcuts. 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.". 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." Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. (On March 8 the company appointed Arturo Rodriguez to succeed Fabrice Hamaide in the position.) Sucks. Time to Buy? 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). Agreed, this is pretty shitty but have to wait for the response. Copyright 2023 ALM Global, LLC. 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. Use of Culper Research's ("Culper") research is at your own risk. He was the original owner of Roe Tavern in Setauket,N.Y. VERU stock remains an extremely risky bet today. The Motley Fool has no position in any of the stocks mentioned. Verified account Protected Tweets @; Suggested users One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. When typing in this field, a list of search results will appear and be automatically updated as you type. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . Invest better with The Motley Fool. It looks very bad . The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. According to Culper, Aterian acquired the e-commerce brands Mueller, Pursteam, Pohl and Schmitt, and Spiralizer (the "Smash assets") from a convicted felon. Also he was allowed to treat patients via telehealth telehealth while on probation (src). best hunting game for oculus quest 2 culper research legit. For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. Note: We do not offer technical support for developing or debugging scripted downloading processes. 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. to two felons and two alleged scam artists, all of whom will be free to dump their stock by August. But it burnt through almost $9 million in free cash flow (FCF) during its latest quarter ending Dec. 31., according to its 10-Q filing. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. Sign up below to get this incredible offer! 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. But there are some warning signs here. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . 10 czerwca 2022 "We believe that the Company has . 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 . Yes and no. The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. I've never heard of an ad $ per website visit metric before and am not really sure it's value in any case. Does someone more knowledgeable than me have any insight into these numbers ? 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). Not a Bloomberg Law Subscriber?Subscribe Now. We look for stocks with the potential for big moves in the near future up or down. About Us| The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. I bought this stock after Citron recommended it. 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. To other RS execs were laundering money (husband and wife). Is this happening to you frequently? Your article was successfully shared with the contacts you provided. 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. 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. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. This suit was surfaced by Law.com Radar. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. By downloading from or viewing material on this website you agree to the following Terms of Service. Women, Influence & Power in Law UK Awards honors women lawyers who have made a remarkable difference in the legal profession. Prosper Junior Bakiny has no position in any of the stocks mentioned. 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. However, the only problem is that there is a research report dated May 2 from a short-seller firm, Culper Research. This drop over the last month or so has torched like 9% of my portfolio, real quick. Our Team Account subscription service is for legal teams of four or more attorneys. Plaintiffs also allege that "on information and belief, Lamarco is the sole member of Culper Research; owns and controls Culper Research; and, at all relevant times, directed, authorized, and/or was responsible for false and defamatory statements made about, and tortious acts against, Plaintiffs by Culper Research." (ECF No. CleanSpark Investigates Anonymous Short Seller. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. 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. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. The publisher of this false report is an unknown entity or group hidden behind the facade of "Culper Research," which disguises the identity of the actual author(s). 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. By downloading from or viewing material on this website you agree to the following Terms of Service. 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 . Where This Leaves Investors in Veru Stock. This research guide has detailed information about the university's two Washington letters and provides pathways to research materials on the spy ring. from 8 AM - 9 PM ET. u/wallstreetbets crowd? Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 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. So let's take a look at what Culper is saying about Aterian. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. Are u selling or still holding? 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. 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. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. Learn More. About Us. Press question mark to learn the rest of the keyboard shortcuts. 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. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. CleanSpark, Inc. Investor Relations(801) 244-4405[emailprotected], Cision Distribution 888-776-0942 We think that if BCII was a fully-legitimate operation, then at the least, it would be able to recruit a legitimate lawyer. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; . 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. That's $100 million you paid. So the names of the defendants in the lawsuit against Redwood were as follows. And 9380 has actually been buying more stock in Aterian since it was acquired by the company. 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. 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 . Thus, we assign the incremental $18.0M to RexMD. 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. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. 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 . Veru Stock Could Face Difficulties If the Culper Research Report Is True. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. Making the world smarter, happier, and richer. 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. Some research into Culper Research. 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. exhibit at the Three Village Historical Society. At this point, the connection between all these entities and Culper is unclear, beyond the fact that Culper posted the response to Ma-Weaver/Cable Car Capital's SEC FOIA request back in December. Published. ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications.