We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. 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. 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. For that matter, changing the name of your company a week before a short attack might make people nervous, too. *Average returns of all recommendations since inception. 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. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. In the near term, anything can happen to a stock price. https://www.law.com/thelegalintelligencer/2021/09/27/defamation-suit-against-research-company-over-alleged-short-and-distort-stock-scheme-alert-moves-to-fed-court/. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." White Diamond Research is a research firm that sells information to hedge funds and high net worth individuals. 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? Pretty brutal. About Us| Veru Stock Could Face Difficulties If the Culper Research Report Is True. The rather eclectic biotech -- it has a female contraceptive product, FC2, on the market, and is developing cancer drugs -- has attracted much interest because of the apparently promising sabizabulin. But they were not involved in any fraudulent activity. 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. "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. 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. Invest better with The Motley Fool. exhibit at the Three Village Historical Society. By downloading from or viewing material on this website you agree to the following Terms of Service. 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. The Patriots hoped to gain freedom from Britain, liberty, and equality by winning the war. 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. (On March 8 the company appointed Arturo Rodriguez to succeed Fabrice Hamaide in the position.) Shares of healthcare services provider LifeMD (LFMD 1.68%) are plunging on Wednesday and were down by 22.3% as of 3:45 p.m. EDT. 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. While the short report is lengthy, here is part of what Culper said. 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. The Motley Fool has a disclosure policy. That is because $36 includes all of company's business lines, not just RexMD. The allegations the firm makes are of a nature that most potential investors in Veru stock are likely to read. 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. One of the nice things about shorts is that you can always count on them to bring up every possible negative about a stock. *Average returns of all recommendations since inception. Copyright 2023 InvestorPlace Media, LLC. CleanSpark Investigates Anonymous Short Seller. 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. Some research into Culper Research. 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. 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. Published on June 1, 2022 June 3, 2022. Docent led tours every 30 minutes of the Spies! 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." In December 2020, Aterian purchased 9380 Macarthur LLC ("the Smash Assets") from (a) convicted felonwho also appears to be late on $4.1 million of taxes to the State of California. For instance, Culper Research alleges that LifeMD presents misleading information regarding its network of doctors and even uses unlicensed professionals "to dispense OTC medication.". Our Team Account subscription service is for legal teams of four or more attorneys. 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). CleanSpark cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. 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. This drop over the last month or so has torched like 9% of my portfolio, real quick. We conduct extensive financial, legal, and other due diligence, including background checks, on our targets. That could potentially be a turning point for Veru stock. Tickets are limited. 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. Even more recently, yesterday April 13 actually, Culper tweeted the response from the SEC regarding a March 2021 FOIA request for information pertaining to any investigations into SOS, Ltd., $SOS. Nasdaq This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Culper Spy Ring Research Paper Intelligence provided by the Culper Spy Ring was instrumental in the defeat of the British during the Revolutionary War. 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 . 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. The Patriots (colonists) were fighting against the British, in this war. Toggle Navigation Hindenburg Research. LFMD execs were not involved, and left the company. However, such information is presented as is, without warranty of any kind whether express or implied. . 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.. If Justin and Stefan were involved in anyway they would have been on the list of named defendants. 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. It seems clear to us that this report is an attempt by a short seller to negatively impact . By using this site, you are agreeing to security monitoring and auditing. 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? 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. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. 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). Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. Veru has a market capitalization of $750 million at $8.46 as of May 6. The second major issue the Culper report has with Veru is the quality of management. Click to reserve your spot! 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. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Target Stock is Down Nearly 40% From Its High. The tweet indicated there were two requests submitted; one in May 2020 and another in September 2020. what are you doing after this report? 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 . If you have an ad-blocker enabled you may be blocked from proceeding. If you can't trust management, or its numbers, you really shouldn't be in a stock. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. Verified account Protected Tweets @; Suggested users Guys, this is a classic short attack. I've never heard of an ad $ per website visit metric before and am not really sure it's value in any case. Use of Culper Research's ("Culper") research is at your own risk. And, the marketing expense for RexMD by Culper is just an "estimate". 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. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. Veru has sales revenue from other medical assets it owns. All rights reserved. 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. The historical nonfiction book i read was titled "George Washington's Secret Six" and it was written by Brian Kilmeade and Don Yaeger. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. The lock-up on (9380 Macarthur's) massive 16.2% stake expires in June 2021. 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. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. In reality, they are simply conspiring to drive down the prices of stocks they take short positions in. 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 . The Motley Fool has a disclosure policy. Join The Legal Intelligencer now! For most investors the likely risks, as outlined by the Culper Research article, probably outweigh the potential upside in Veru stock. Nonetheless the six month delay in reporting is worrisome. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? 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. The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution 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 case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. And 9380 has actually been buying more stock in Aterian since it was acquired by the company. Cost basis and return based on previous market day close. Jan 21, 2021 1:53PM EST. Use of Culper Research's("Culper") research is at your own risk. Not a Bloomberg Law Subscriber?Subscribe Now. Capacity is expected to increase to over 300 PH/s in mining capacity by early 2021. 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. That's what happened to the shorts in the Gamestopfrenzy earlier this year. To other RS execs were laundering money (husband and wife). Further, Culper Research thinks LifeMD is engaged in fraudulent and illegal activities that are similar to those of Redwood Scientific, a company that faced severe legal penalties at the hands of the U.S. Federal Trade Commission (FTC) back in 2018. A recent report by Culper Research contains numerous false and misleading statements about our company. Create an account to follow your favorite communities and start taking part in conversations. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. Yes, the two executives were at Redwood Scientific. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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. Reddit and its partners use cookies and similar technologies to provide you with a better experience. We have a suite of software solutions that provide end-to-end microgrid energy modeling, energy market communications, and energy management solutions. This research guide has detailed information about the university's two Washington letters and provides pathways to research materials on the spy ring. The Motley Fool has a disclosure policy. 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. 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. Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. For more information, contact opendata@sec.gov. Sign up below to get this incredible offer! Did they not look into this and see all this??? These statements are based on CleanSpark's current beliefs and expectations. 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. u/wallstreetbets crowd? 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. How valuable are the assets if you can't trust the sales numbers? Culper is an anonymous short-seller that refuses to disclose the individuals or entities behind it. All rights reserved. It is very clear that one of their tactics is to submit FOIA requests for information regarding investigations into companies they are attacking, which if you know the Freedom of Information Act, is information that would never be released to the public. 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 Culper Report expressed the "view that Treace's primary innovation has not been in any sort of . Are u selling or still holding? Mark Hake writes about personal finance on mrhake.medium.com, Newsbreak.com and Beehiiv.com. Yes and no. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). 1001 and 1030). Cost basis and return based on previous market day close. Where This Leaves Investors in Veru Stock. CleanSpark Investigating Short Seller Culper Research. On May 4, an anonymous short seller, "Culper Research," launched an attack on Aterian (ATER), a company that uses artificial intelligence to find, acquire, and launch popular consumer goods businesses. ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . It's important to remember that there are two sides to every story. So let's take a look at what Culper is saying about Aterian.