These statements are based on CleanSpark's current beliefs and expectations. 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. 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 . The Motley Fool has a disclosure policy. Federal Judge: Lancaster Investment Firm, Executives Must Pay $2M in Civil Penalties, Restitution, Special Master in MoneyGram Feud at SCOTUS Has Surprise Change of Mind, In Jackson's First Majority Opinion, SCOTUS Curbs Delaware's Collection of Unclaimed Property, Class Action Accusing BOA of Inadequate Notice Before Reposessions Hits Federal Court, Law.com Editors and Analysts Offer Top Trends to Watch for 2023. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. Has anyone attempted to recalculate their marketing cost per website visitor for LFMD vs HIMS. LFMD responded to short report, denying the claims and will report something in detail soon. u/wallstreetbets crowd? The Motley Fool recommends Aterian, Inc. 2 Reasons to Avoid a Roth 401(k) for Your Retirement Savings, Want $1 Million in Retirement? Verified account Protected Tweets @; Suggested users 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. 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. Just another manipulative scare tactic that I wouldn't be surprised if they use against LifeMD next. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. In the near term, anything can happen to a stock price. 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. For more information, visit https://ATL-DATA.com. 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. Our focus was and continues to be on acquiring high performing businesses that offer opportunities for growth. Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. Veru has not yet officially responded to Culper's accusations, which are worrying. CleanSpark takes seriously any accusations of impropriety, stands behind its prior statements and disclosures, and will not tolerate unfounded and reckless claims against the Company. LexisNexis and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information. Contact Us| The Austin-based company went public on the Nasdaq via a special purpose acquisition vehicle, or SPAC, in January 2022. For accurate information about the Company, Shareholders should refer to the Company's disclosure documents filed with U.S. Securities and Exchange Commission, which are available online under the Company's EDGAR profile atwww.sec.govor on the Investor Relations tab of the Company's website atwww.CleanSpark.com. Research is not investment advice nor a recommendation or solicitation to buy securities. What kind of manipulation and block trades? It seems clear to us that this report is an attempt by a short seller to negatively impact . Invest better with The Motley Fool. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. 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. Did anyone read this? Agreed, this is pretty shitty but have to wait for the response. Law.com Radar publishes daily updates on just-filed federal cases like this one. On the other hand, the stock dropped 25% . 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). Veru Stock Could Face Difficulties If the Culper Research Report Is True. The report seems to imply that Veru will be another failure just like other drug companies the management has run. 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? This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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." Dynamically explore and compare data on law firms, companies, individual lawyers, and industry trends. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . 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. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. 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 Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. The Patriots (colonists) were fighting against the British, in this war. 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? Sign up below to get this incredible offer! Im holding on to see the company response. Eric Volkman has no position in any of the stocks mentioned. Did these scumbags have any insider information? On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. Learn More. You further agree to do your own research and due diligence, consult your own financial, legal, and tax advisors before making any . Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. An immediate avalanche of selling started at the open of the 6th, suggesting that news of the basket trial was a bad thing. 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. But there are some warning signs here. The members of the culper spy ring are an excellent example of the ordinary people that risked their lives to create . The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. Such holders only profit on such positions when the stock declines and incur potentially unlimited losses if the price does not decline. Making the world smarter, happier, and richer. 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. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". 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. One concern is that the t otal a ddressable m arket ( TAM) for all forms of . Copyright 2023 Culper Research - All Rights Reserved. Link to CULPER RESEARCH https://img1.wsimg.com/blobby/go/cc91fda7-4669-. Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. Taylor Carmichael has no position in any of the stocks mentioned. Pretty brutal. To put bluntly the research report implies that Verus Phase 3 study is not likely to succeed in helping VERU-111 obtain a EUA. Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. I do wish to raise two issues: Rivington and my background. If these claims prove accurate, LifeMD could face the wrath of lawmakers and regulators. $10/person - Space is limited. On the other hand, shorts are always future buyers of your stock. 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. In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . Prosper Junior Bakiny has no position in any of the stocks mentioned. Cost basis and return based on previous market day close. Like, within two days of the report, which just adds to the shadiness of the situation. 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. Culper Research also notes that some of LifeMD's current executives were implicated in the Redwood scandal, either as employees of the company directly involved in these crimes or as major shareholders. And 9380 has actually been buying more stock in Aterian since it was acquired by the company. 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.