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. Jan 21, 2021 1:53PM EST. Tickets are limited. In addition, these transactions were structured as asset purchases only and therefore the founders did not become employees of Aterian. Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. *Average returns of all recommendations since inception. For more information, visit https://ATL-DATA.com. It looks very bad . Skip to Main Content. Short-sellers Hindenburg Research and Culper Research said on Friday they have taken a short position on Chinese blockchain firm SOS Ltd's stock, sending the company's shares down 23%. For example, if it has to redesign the study and start from scratch the costs could go up. This drop over the last month or so has torched like 9% of my portfolio, real quick. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we undertake no obligation to revise or update this press release to reflect events or circumstances after the date hereof. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Veru has not yet officially responded to Culper's accusations, which are worrying. If any provision of these Terms of Service is found by a court of competent jurisdiction to be invalid, the parties nevertheless agree that the court should endeavor to give effect to the parties intentions as reflected in the provision and rule that the other provisions of these Terms of Service remain in full force and effect, in particular as to this governing law and jurisdiction provision. I think the only scary about the report is that some executives at LifeMD, used to work at Redwood Scientific, which was shut down by FTC upon fraud. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. A recent report by Culper Research contains numerous false and misleading statements about our company. 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. All rights reserved. By downloading from or viewing material on this website you agree to the following Terms of Service. According to documents Aterian filed with the SEC on April 29, 9380 Macarthur does indeed own almost 5 million shares, or 16.2% of the company. Our Team Account subscription service is for legal teams of four or more attorneys. On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. The Patriots (colonists) were fighting against the British, in this war. $10/person - Space is limited. That's $100 million you paid. Sometimes when there is "blood in the water" other shorts will jump in as well. Do these allegations sound legitimate or a . Managing Partner, Chief Investment Officer. . 1-2, 13). 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 . 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. More recently, Culper tweeted the response from SEC on a FOIA request for records pertaining to any investigations into OrthoPediatrics Corp., $KIDS. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. SALT LAKE CITY, Jan. 21, 2021 /PRNewswire/ -- CleanSpark, Inc. (Nasdaq: CLSK), (" CleanSpark, or "the . Please declare your traffic by updating your user agent to include company specific information. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. 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. Customer Service| 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? 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. Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. $10/person - click to reserve your spot! To make the world smarter, happier, and richer. On the date of publication, Mark R. Hake did not hold any position (either directly or indirectly) in the securities mentioned in this article. Your article was successfully shared with the contacts you provided. Both options are priced the same. Time to Buy? As we all learned today, Culper and its shady supporters aim to create a veil of legitimate entities conducting research which just so happens to uncover some form of fraud/scandal/etc. You should assume that Culper (possibly along with or through our members, partners, affiliates, employees, and/or consultants) along with our clients and/or investors has a position in any securities covered herein. Getting The Talent Balance Right: From Layoffs to Laterals to Mergers, How Can Firms Staff for Success? Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. Law.com Radar publishes daily updates on just-filed federal cases like this one. 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. In this conversation. Pretty brutal. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. 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. 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. Were short sellers putting together a scam? Clickhereto get started and be first to know about new suits in your region, practice area or client sector. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. CleanSpark, Inc. Investor Relations(801) 244-4405[emailprotected], Cision Distribution 888-776-0942 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 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. 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. Veru has a market capitalization of $750 million at $8.46 as of May 6. Learn More. The second major issue the Culper report has with Veru is the quality of management. 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). 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Cost basis and return based on previous market day close. 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. 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. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." And changing your chief financial officer in the midst of this doesn't exactly reassure. 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. 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. However, such information is presented as is, without warranty of any kind whether express or implied. . I bought calls just before market close yesterday lol fuck my life. Guys, this is a classic short attack. Reference ID: 0.9d8f1402.1677945178.3b82c472. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. The publisher of this false . Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. 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? 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. Dont listen to shitron in the first place, that guy is the worst, Did some research, seems like Dr Badii is no longer with RexMD. 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. 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. 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. 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. Yes, the two executives were at Redwood Scientific. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. I need to wait for management's response and the Q1 earnings release to really make an opinion on the merits of this short report. While the short report is lengthy, here is part of what Culper said. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? The Motley Fool has no position in any of the stocks mentioned. 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. Article printed from InvestorPlace Media, https://investorplace.com/2022/05/veru-stock-could-face-difficulties-if-the-culper-research-report-is-true/. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. 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.". "We believe that the Company has . The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. 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 the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. Significant to regional and national historical narratives, SBU's letters were authored in 1779 and 1780 and document espionage activities in the Three Village area of Long Island, New York, the . Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. It seems clear to us that this report is an attempt by a short seller to negatively impact . By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . The Cable Car website is down right now, but does indicate a connection to an investment partnership with the Funicular Fund. Under Mr. Cook's . Spying is a secret business and thus research into it is most difficult. Looking at the relevant FOIA request logs on the SEC website suggests an individual named Jacob Ma-Weaver twitter linkedin acting on behalf of what appears to be his short-selling fund Cable Car Capital LLC. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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. Don't miss the crucial news and insights you need to make informed legal decisions. Join The Legal Intelligencer now! Terms of Service. Cost basis and return based on previous market day close. Financial Market Data powered by FinancialContent Services, Inc. All rights reserved. Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. 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. 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. More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Five days later, the short report came public. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The Motley Fool has no position in any of the stocks mentioned. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". With Such Low Win Rates, Should Law Firms Respond to So Many RFPs? The SEC logs have not been posted yet for March 2021 requests, but I will update that once they become available. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any . Mohawk Group Holdings) was founded by . VERU stock remains an extremely risky bet today. The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. The two short-sellers claimed that SOS stock was an . The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . And 9380 has actually been buying more stock in Aterian since it was acquired by the company.