More importantly, I want to know why the stock went from $18 to $12 between the earnings and the short report. 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. 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. However, such information is presented as is, without warranty of any kind whether express or implied. lifeguard air ambulance new mexico hassan has plastic surgery hassan has plastic surgery The researcher is also highly unimpressed with the executives guiding the company. Just went through LifeMD's annual report and they don't break down marketing expenses per business line. LFMD execs were not involved, and left the company. 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. CleanSpark, Inc. Investor Relations(801) 244-4405[emailprotected], Cision Distribution 888-776-0942 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. For that matter, changing the name of your company a week before a short attack might make people nervous, too. 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. VERU stock remains an extremely risky bet today. 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. 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. 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. These statements are based on CleanSpark's current beliefs and expectations. Like, within two days of the report, which just adds to the shadiness of the situation. 10 czerwca 2022 With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. from 8 AM - 9 PM ET. On the other hand, the stock dropped 25% last week and the company felt the need to respond to the allegation. 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. 2) In April, $VERU announced Phase III results (without full data) of sabizabulin (VERU-111) in hospitalized COVID-19 patients. And changing your chief financial officer in the midst of this doesn't exactly reassure. 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. 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 best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. For example, if it has to redesign the study and start from scratch the costs could go up. Time to Buy? In no event should Culper or any affiliated party be liable for any direct or indirect trading losses caused by any . CleanSpark plans to apply its technologies with a goal of mining bitcoins at the lowest energy prices in the United States. 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. Culper Research alleges that the company appears to use unlicensed doctors to dispense OTC medications. To make the world smarter, happier, and richer. For more information, visit https://ATL-DATA.com. culper research legitsan juan airport restaurants hours. 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). Use of Culper Research's ("Culper") research is at your own risk. If too many people are short a stock, the trade might flip on them, and a short squeeze might take place, causing the stock to zoom higher. Law.com Radar publishes daily updates on just-filed federal cases like this one. Learn More. The problem is it has just $116.1 million in cash as of Dec. 31 and is burning through its cash. These activities include "unlawful autoshipping, abusive telemarketing, and false claims of its products." Your article was successfully shared with the contacts you provided. 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 . 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 $1 Million in Retirement? For more information, contact opendata@sec.gov. This suit was surfaced by Law.com Radar. Through its wholly owned subsidiary ATL Data Centers LLC, CleanSpark owns and operates a data center that provides customers with traditional on-site and cloud-based data center services. Culper research countered with a well-timed short report tweeted at 8:05 AM spreading fear in the minds of longs that something was wrong going into the investor call. LexisNexis and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. Town square for LifeMD ($LFMD) stakeholders, Press J to jump to the feed. Taylor Carmichael has no position in any of the stocks mentioned. A company that relies on acquisitions to make its revenue go up can be hiding a sales deterioration in the existing business. Thus, we assign the incremental $18.0M to RexMD. Copyright 2023 Culper Research - All Rights Reserved. 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. Such statements, estimates, projections and opinionsmay prove to be substantially inaccurate and are inherently subject to significant risks and uncertaintiesbeyond Culper's control. 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.". WOW Very BOLD and INTENSE claims made by Culper Research about Blink Charging Fraud!! Under Mr. Cook's . 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? Spying is a secret business and thus research into it is most difficult. Sign up below to get this incredible offer! 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. LifeMD (NASDAQ: LFMD) dropped 16% after a new short report from Culper Research. CleanSpark, Inc., a Nevada corporation, is in the business of providing advanced software and controls technology solutions to solve modern energy challenges. 1001 and 1030). The Patriots (colonists) were fighting against the British, in this war. Not really sure how to end this post, but please let me know think. The problem is this is a highly speculative play for most investors. 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. 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. He was the original owner of Roe Tavern in Setauket,N.Y. 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. The report seems to imply that Veru will be another failure just like other drug companies the management has run. "LifeMD uses technology to make health care more accessible to people from all walks of life. 1125 N. Charles St, Baltimore, MD 21201. By using this site, you are agreeing to security monitoring and auditing. I do wish to raise two issues: Rivington and my background. On November 15, 2022, Culper Research published a short report on Treace (the "Culper Report"). Home; About us; Contact us; Twitter Seeking Alpha Stocktwits; . However, the only problem is that there is a research report dated May 2 from a short-seller firm, Culper Research. 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. Copyright 2023 InvestorPlace Media, LLC. 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. 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. Other than that, Culper is a shady short seller that attacks stock on fire with high retail investor base to panic them. 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 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. The Motley Fool has no position in any of the stocks mentioned. Down 94%, Is Carvana Stock a Buy-the-Dip Opportunity? On December 3, 2020, Culper tweeted regarding a FOIA request for information from SEC on any investigations into a company called CytoDyn $CYDY. The report lists numerous ethical, integrity, and past performance issues with the key personnel running the company. The Motley Fool recommends Aterian, Inc. Special Collections, a division of Stony Brook University Libraries (SBU Libraries) is the owner and steward of two American Revolutionary War-era, Culper Spy Ring letters authored by George Washington. We scour the stock universe for good ideas and specialize in the technology and healthcare sectors, and in special situations in all sectors. By downloading from or viewing material on this website you agree to the following Terms of Service. I'd love to hear your thoughts on what I've found below and hopefully help connect some of these dots. Recognizing innovation in the legal technology sector for working on precedent-setting, game-changing projects and initiatives.