That's what happened to the shorts in the Gamestopfrenzy earlier this year. Kick the day off with a 9:00 a.m. walking tour led by Tri-Spy Tours! Use of Culper Research's("Culper") research is at your own risk. He was the original owner of Roe Tavern in Setauket,N.Y. While the short report is lengthy, here is part of what Culper said. 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. What Is the Best EV Stock to Buy Now? lifeguard air ambulance new mexico hassan has plastic surgery hassan has plastic surgery CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. Veru has sales revenue from other medical assets it owns. Lorem ipsum dolor sit amet, consectetur adipiscing elit. TICKETED EVENTS on Culper Spy Day. 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. Invest better with The Motley Fool. This is set for next Tuesday, May 10. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! The problem is it has just $116.1 million in cash as of Dec. 31 and is burning . At just 150 patients, the trial is a . 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. Overall, it's been ~15 years since I've seen a decent group go after microtubules in cancer. Research is not investment advice nor a recommendation or solicitation to buy securities. 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 . $10/person - click to reserve your spot! 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. But they were not involved in any fraudulent activity. The researcher is also highly unimpressed with the executives guiding the company. u/wallstreetbets crowd? The case is 2:21-cv-01273, Lifemd, Inc et al v. Lamarco et al. 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. Investors could turn away from the company in droves if the researcher's allegations have merit, however. 831 Words4 Pages. 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. 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. 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. 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. Pretty brutal. Some research into Culper Research. Did these scumbags have any insider information? The problem is this is a highly speculative play for most investors. Note: We do not offer technical support for developing or debugging scripted downloading processes. 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. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. 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). Cost basis and return based on previous market day close. 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. Target Stock is Down Nearly 40% From Its High. 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. These statements are based on CleanSpark's current beliefs and expectations. 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. Making the world smarter, happier, and richer. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. On the other hand, the stock dropped 25% . Nasdaq These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." 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. For more information, visit https://ATL-DATA.com. 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. $10/person - Space is limited. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. 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. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). 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. Mr. Adam S. Cook is a co-founder and Chief Investment Officer at Culper Capital Partners ("CCP"). About Us. ET after the short-selling group Culper Research published a new report criticizing the company's latest clinical trial . The most trusted brand in stock market news; Fatest intelligence & alerts; Active trader chat rooms; Option trade alerts; Only comprehensive mobile notifications solution Guys, this is a classic short attack. 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. Nevertheless, if somehow the FDA does give its Covid-19 vaccine a EUA, all bets are off on the stock. The Legal Intelligencer honors lawyers leaving a mark on the legal community in Pennsylvania with their dedication to law. Docent led tours every 30 minutes of the Spies! About Us| 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. Click to reserve your spot! 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. Yes, the two executives were at Redwood Scientific. 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. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. Create an account to follow your favorite communities and start taking part in conversations. Veru has not yet officially responded to Culper's accusations, which are worrying. And 9380 has actually been buying more stock in Aterian since it was acquired by the company. 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. 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. *Average returns of all recommendations since inception. And changing your chief financial officer in the midst of this doesn't exactly reassure. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? Do these allegations sound legitimate or a . A recent report by Culper Research contains numerous false and misleading statements about our company. Use of Culper Research's ("Culper") research is at your own risk. Clickhereto get started and be first to know about new suits in your region, practice area or client sector. 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. Miracle Cures and Murder For Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies. Value oriented and event driven investor. No LFMD executives were charged. Did they not look into this and see all this??? Thissuit was surfacedby Law.com Radar, a source for high-speed legal news and litigation updates personalized to your practice. Investors might want to watch out. 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.". Is this happening to you frequently? 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. 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). 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? Veru 's ( VERU -0.17%) stock dipped by 5.5% on Friday as of 10:49 a.m. Copyright 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.". 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. CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. Customer Service| 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. 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. 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. Use of Culper Research's ("Culper") research is at your own risk. Eric Volkman has no position in any of the stocks mentioned. https://www.google.com/amp/s/seekingalpha.com/amp/news/3681732-lifemd-falls-after-new-short-call-from-culper-research. 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. Join The Legal Intelligencer now! 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.. Since RexMD's founding, sales and marketing have ballooned to $20.0M in Q4 2020. Toggle Navigation Hindenburg Research. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. However, such information is presented as is, without warranty of any kind whether express or implied. The Motley Fool recommends Aterian, Inc. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives. Copyright 2023 Culper Research - All Rights Reserved. That's $100 million you paid. Culper has no identity other than a webpage, with no information (no address, about us, anything - wonder why the anonymity? Read the complaint here: To view this content, please continue to their sites. 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. With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry.