Kessler Topaz Meltzer & Check LLP Im cooperating and I have full faith in the system and the First Amendment.. But more importantly, these factors raise serious doubts regarding the scope of due diligence DWAC conducted in the six weeks between its IPO and execution of the TMTG merger agreement. (888) 508-6832 (toll-free)cholzer@holzerlaw.com, To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98655, https://www.newsfilecorp.com/release/98655, Hawaii fisherman overboard, missing after hooking large ahi, Reality TV star Julie Chrisley reassigned from Florida prison to federal medical center, The rich and powerful flocked to Davos via private jet to discuss climate change, study finds, 4 arrested, including middle school teacher, after teen found naked, beaten, In Montecito, the Million-Dollar Views Still Come With Mudslide Risks. The complaint also charges GPB Capital and Gentile with violating the antifraud provisions of the Investment Advisers Act of 1940 and charges GPB Capital with violating the registration and whistleblower provisions of the Exchange Act and the Advisers Acts custody and compliance rules. Ivan Cosovic of Breakout Point offers some highlights of December's haul for short-sellers in an email. Good news coming for us Newbie Here: Just DRSd 500 shares of dwac Scary but Gary Gensler, Head of the SEC(securities and exchange Press J to jump to the feed. Your email address will not be published. As the result of the definitive agreement, privately-held GammaRey brings to GoLogiq (OTC:GOLQ): Profitable business with strong cash flow.Nearly $800 million in customer financial assets.Full-stack fintech ecosystem designed for the New World Digital Economy, including a commodity-backed digital currency, digital wallet, and proprietary transaction platform for securities, goods and services.Pipeline of accretive and/or technology-enabling acquisitions. Ortex data. Kerrisdale Capital, an investment management company, released its investor letter for July. Phillip Kim, Esq. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. "Eleven stocks were added to short sellers' naughty list in December," he said in an email. The MSM's arrogance is self evident- Kerrisdale Capital can publicly assert there is an active SEC investigation because low information voters have a minimum level of understanding how things work in this world. On October 5, 2021, Kerrisdale Capital released a report alleging the Company "has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September." Here is DWACfam Mark Willis hand delivering his DWAC UPDATE: Response from Rep. Dan Bishop's Office. Your email address will not be published. Washington D.C., Feb. 4, 2021 . The Rosen Law Firm, P.A. The other two shorts are HubSpot Kerrisdale also highlights the sponsor of Digital World Acquisition being a Chinese firm that previously had three shell companies "killed by the SEC in the past." The SPAC merger announcement. In DWAC, the SEC has been handed textbook examples of the types of SPAC-related misconduct that it is intent on shutting down. The SECs investigation was conducted by Kristin M. Pauley, Lindsay S. Moilanen, Kerri L. Palen, David Stoelting, Neal Jacobson, Melissa A. Coppola, Alistaire Bambach, and Sheldon L. Pollock, and supervised by Lara S. Mehraban. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 lrosen . Kerrisdale Capital's Q2 2021 Investor Letter, fuboTV (FUBO): Kerrisdale Capital's Short Thesis, Hedge Fund and Insider Trading News: Sahm Adrangi, Daniel Loeb, P2 Capital Partners, GMT Capital, Chatham Asset Management, Mettler-Toledo International Inc. (MTD), Tetra Tech, Inc. (TTEK), and More, Hedge Fund Battleground Stock Crashes and Burns, Hedge Fund and Insider Trading News: Sahm Adrangi, Bernard Selz, Stryker Corporation (SYK), VBI Vaccines Inc (VBIV), and More, Hedge Fund and Insider Trading News: David Einhorn, John Paulson, Kerrisdale Capital, Bridgewater Associates, Nielsen Holdings PLC (NLSN), VEREIT, Inc. (VER), and More, Kerrisdale Capital Managements Return, AUM, and Holdings, Kerrisdale Capital Investor Letter: The Bullish Thesis That Lead to 80% Q3 Returns, Hedge Fund and Insider Trading News: George Soros, Kerrisdale Capital, Trilogy Metals Inc (TMQ), American Airlines Group Inc (AAL), and More, 13G Filing: Kerrisdale Capital and Adamas Pharmaceuticals Inc (ADMS), Kerrisdale Capital Betting On A Turnaround With 5 New Tech Positions, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. According to Breakout Point, Night Market Research also had two of the top 10 best short calls with Mountain Valley MD and BeyondSpring. On this report, the price of the Company's stock plummeted. Edited: We'd all love a little more transparency from DWAC. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. As alleged, GPB Capital actually used investor money to pay portions of the annualized 8% distribution payments. Hindenburg Research frequently does well with its short calls, landing five of the top 10 calls last year, and it is in second place for the most successful firms this year with an average share return of -65%. We are short shares of Digital World Acquisition Corp. (DWAC), a SPAC valued at over $8bn on a pro forma basis, because we believe it will never secure the necessary regulatory approval to close its proposed merger with Trump Media & Technology Group (TMTG). Follow this author to stay notified about their latest stories. If you purchased Camber stock and suffered a loss on that investment, you are encouraged to contact Corey D. Holzer, Esq. Valiant has a long-standing policy of cooperating with any inquiries it receives from regulators and other government bodies, but is not aware of being involved in the short-selling probe, chief compliance officer Michaela Beckman said in an email to Bloomberg. The firm believes HubSpot is a COVID beneficiary whose growth will ultimately disappoint. (888) 508-6832 (toll-free)cholzer@holzerlaw.com, To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98655, Our goal is to create a safe and engaging place for users to connect over interests and passions. The charges filed today reinforce the Commissions commitment to protecting whistleblowers from retaliation and attempts to stifle the free flow of information to the Commission about possible securities law violations.. Recent SEC actions confirm that 1) the agency is serious about reining in a financial sector widely regarded as rife with potential fraud and conflicts of interest, and 2) SPAC enforcement investigations are priority matters within the commission. Starting a social media platform from scratch, particularly one linked to the former President, requires experienced leadership and resources across a host of critical technical disciplines. A prime actor in this affair is an obscure Chinese investment firm, ARC Group, that has been repeatedly punished by the SEC for lying about the true nature of businesses that turned out to be shell companies. For more information about Kessler Topaz Meltzer & Check, LLP, please visit www.ktmc.com. Without admitting or denying the findings, KCM and Kornitzer agreed to be censured, to cease-and-desist orders, and to a joint and several penalty of $2.7 million. October 06, 2021 17:06 ET Kerrisdale "the three stooges" Capital and it fellow dunces like Mr. Greg GERST, CFA have thrown all the crap they can against the wall and it is beginning to drop on their heads. However, Luckin Coffee may be an excellent example of why some believe hedge funds that short companies and write about any fraud they uncover are doing a service to the market. "We literally haven't. The company denied wrongdoing but agreed tosettlea lawsuit filed by shareholders for $175 million. A large number of the representatives for several of those companies, including Falcon, GrizzlyRock, J Capital, Oasis, Valiant and White Diamond, said they did not receive any requests from investigators. "Hedge funds that uncover shortcomings in companies and short stocks provide a valuable service to the markets by 'outing' companies who are not running sound businesses," she said in an email. Spruce published on Nuvei, and shares hit -40% price target within only few hours of report publication.". $DWAC is the SPAC that is taking Trump Media and Technology Group (future $TMTG) to the public stock exchange via the NASDAQ. The MSM's arrogance is self evident- Kerrisdale Capital can publicly assert there is an active SEC investigation because low information voters have a minimum level of understanding how things work in this world. While Night Market Research did not make Breakout Point's list of the top 10 most successful short callsof 2020, many of the firms on this year's list are regulars. Kerrisdale Capital Management LLC. Holzer & Holzer, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Hah! Kerrisdale Capital is an investment management firm. , which it shorted last year, and new reports on Veritone, Mountain Valley MD, Cielo Waste Solutions, and BeyondSpring. I write about hedge funds with a focus on emerging managers. In December, Bloomberg's article said that Citron, Anson Funds, Marcus Aurelius Value and Muddy Waters Capital were being investigated. The SECs complaint alleges that David Gentile, the owner and CEO of GPB Capital, and Jeffry Schneider, the owner of GPB Capitals placement agent Ascendant Capital, lied to investors about the source of money used to make an 8% annualized distribution payment to investors. According to Spruce Point, the company is "reporting remarkable financial success, wildly expanded margins at its European targets, and cash flow after years of operating in the red." Spruce Point also believes the company's financial disclosures are weak and that its results "are being temporarily enhanced from concentrated exposure to high-risk gaming and eCommerce.". Let's take a look at how research firms serving hedge funds have done with their short calls this year and at whether the market benefits from these reports at all. August 31st, 2022 - Hedge Fund Investor Letters News, August 5th, 2021 - Hedge Fund Investor Letters News, February 13th, 2020 - Hedge Funds Insider Trading, June 19th, 2019 - Hedge Funds Insider Trading, January 23rd, 2019 - Hedge Funds Insider Trading, November 26th, 2018 - Hedge Fund Investor Letters Hedge Funds Market Movers News, February 8th, 2018 - Hedge Funds Insider Trading, August 22nd, 2016 - Hedge Fund Analysis Hedge Funds News. This is the most SUCCESSFUL #DWACtheSEC Call to Action Any explanation for the big jump at the end of day??? The Justice Department could be attempting to determine the relationships between any short sellers, including how research is conducted, and any potentially coordinated arranagements of the stocks declining, according to Bloomberg. optimusprimemfs 9 mo. Can't wait Record levels activity on Truth! If you purchased Camber stock and suffered a loss on that investment, you are encouraged to contact Corey D. Holzer, Esq. Please read & abide by sub rules! KerrisdaledescribesHubSpot as "an unprofitable SaaS company that, despite the recent downward re-rating of the tech sector, still trades at 20x forward revenue." We will always cooperate with any such investigations and are happy to assist regulators in carrying out their duties, he told Bloomberg. UPDATE: This community is now RESTRICTED. We make value-oriented investments in public securities. Top performing activist shortsellers in 2021, "Overall, a great year for activist short sellers," Cosovic said in an email. Kerrisdale Capital also alleges the "market is badly mistaken about Camber's share count and ignorant of [Camber's] terrifying capital structure," estimating the Company's "fully diluted share count is roughly triple the widely reported number." Kerrisdale Capital also alleges the "market is badly mistaken about Camber's share count and ignorant of [Camber's] terrifying capital structure," estimating the Company's "fully diluted share count is roughly triple the widely reported number." On this report, the price of the Company's stock plummeted. It also settled charges filed by the Securities and Exchange Commission by paying a $180 million fine. The firm believes Astra is a "story stock that's yet another example of the questionable businesses going public via SPACs." The FBI took computers from the home of Andrew Left, the founder of Citron Research, which is known for its short selling trading, sources told Bloomberg. Contacts. Is Tencent Music Entertainment Group (TME) A Smart Long-Term Buy? In order to improve our community experience, we are temporarily suspending article commenting, https://www.newsfilecorp.com/release/98655. Kerrisdale Capital is an investment management firm. I bet u/thepatrickorlando gets a good laugh as hes fact checking this piece. UP Fintech Holding (TIGR) A Smart Long-Term Buy? The Justice Department has also recently subpoenaed some market participants seeking calendars, communications and other records for nearly 30 investment and research companies, according to the sources. December 10, 2019 - The Securities and Exchange Commission today announced settled charges against Kornitzer Capital Management, Inc. (KCM), a Kansas-based registered investment adviser, and its President, CEO, and majority owner John C. Kornitzer, for not following client instructions and for failing to adopt or implement reasonably designed written policies and procedures connected to client objectives and restrictions. A copy of the same can be downloaded here. RADNOR, Pa., Oct. 06, 2021 (GLOBE NEWSWIRE) -- The law firm of Kessler Topaz Meltzer & Check, LLP is currently investigating potential violations of the federal securities laws on behalf of shareholders of Camber Energy, Inc. (NYSE: CEI) (Camber). With each passing day, the truth becomes harder to deny; a merger between two sketchy companies that is already taking too long is likely headed for collapse. While recent pressure on DWAC shares has been attributed to the executive exodus at TMTG and Elon Musk's interest in acquiring Twitter, DWAC's stock has much further to fall given the demonstrably misleading statements in DWAC's registration statement, the status of TMTG's operations at the time the merger agreement was executed, the cast of characters seeking to consummate that merger and those individuals' flagrant disregard for SEC rules and regulations. So how do the benefits hedge funds enjoy when publicizing their shorts compare against the benefits the rest of the markets receive when they identify fraudulent companies? According to the complaint, these defendants along with Ascendant Alternative Strategies, which marketed GPB Capitals investments, told investors that the distribution payments were paid exclusively with monies generated by GPB Capitals portfolio companies. Given these challenges we think there is significant risk DWAC never files an S-4 at all. at jkarr@holzerlaw.com, call our toll-free number at (888) 508-6832, or visit our website at www.holzerlaw.com to discuss your legal rights. Some of the investigations began in early 2021. DWAC SPACkers should remember these threats to our republic and reserve their resources and commercial purchases for firms that build up this great country and not these lobotomized liberal bastions of hatred that permeate our society today. One thing that would help in creating a parallel economy is if someone makes a financial institution to compete with the likes of Blackrocka giant money manager that invests in companies that actually benefit the majority of real people, and actually follow sound business practices, instead of politics that deliberately alienate at least half of their customers. The Department of Justice and the U.S. Securities and Exchange Commission are investigating dozens of investment firms for their short selling activities. Photographer: Peter Foley/Bloomberg. Washington D.C., Sept. 24, 2021 The Securities and Exchange Commission today charged Thomas Powell and Stefan Toth, and their entities, Resolute Capital Partners LTD LLC and Homebound Resources LLC, with making material misrepresentations and omissions in connection with more than a dozen unregistered oil and gas securities offerings. CONTACT:Corey D. Holzer, Esq. This year's most successful short-sellers. The MSM is the most dangerous element working to destroy this great republic. The litigation will be led by Mr. Stoelting, Ms. Pauley, and Ms. Moilanen. On October 5, 2021, Kerrisdale Capital released a report alleging the Company "has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September." Six months after the merger, DWAC still hasnt filed even an initial S-4. Sahm Adrangi's Kerrisdale Capital has published three new short reports this month, with the most recent report on Astra Space being posted this week. This action shows our continued pursuit of those who deceive investors and conceal their misconduct to reap profits for themselves., Jane Norberg, Chief of the SEC's Office of the Whistleblower, added, Whistleblower protections are a cornerstone of the SECs whistleblower program. To gain SEC approval of a supposedly forthcoming S-4, DWAC needs to accurately detail the extent of the due diligence it conducted regarding TMTG within just six weeks, as well as explain the specific reasons why it believes merging with a de facto shell company is in DWAC shareholders best interests. Six weeks into Truth Socials bungled launch, senior executives are already fleeing. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. While recent pressure on DWAC shares has been attributed to the executive exodus at TMTG and Elon Musks interest in acquiring Twitter, DWACs stock has much further to fall given the demonstrably misleading statements in DWACs registration statement, the status of TMTGs operations at the time the merger agreement was executed, the cast of characters seeking to consummate that merger and those individuals flagrant disregard for SEC rules and regulations. We havent been contacted by DOJ, SEC or any governmental authorities about any investigations, Sahm Adrangi,Kerrisdales chief investment officer, wrote in an email. Breakout Point also provided data on this year's most successful short-sellers year to date. Sources told Bloomberg that the Justice Department is looking for potential abuses within the trading activities of these firms. People familiar with the matter also said they wanted records from 36 people that were associated with those companies. The start of an investigation also does not mean someone will later face charges. The Securities and Exchange Commission today charged three individuals and their affiliated entities with running a Ponzi-like scheme that raised over $1.7 billion from securities issued by a New York-based asset management firm and registered investment adviser, GPB Capital. The sources also said that requests for information were also sent by the SEC. A copy of the same can be downloaded here. Two months later, Luckin Coffee itself reported the discovery that its chief operating officer and other staffers had fabricated about 40% of its revenue in 2019. GPB Capital and Gentile with assistance from Jeffrey Lash, a former managing partner at GPB Capital, also allegedly manipulated the financial statements of certain limited partnership funds managed by GPB Capital to perpetuate the deception by giving the false appearance that the funds income was closer to generating sufficient income to cover the distribution payments than it actually was. They themselves are pending investigations, They must have bought those overpriced june-September puts and got margin call lol. The SEC's investigation was conducted by John H. Mulhern and Kimberly L. Frederick of the Asset Management Unit in the Denver Regional Office, and Daniel M. Konosky of the Denver Regional Office. We recommend about 10-15 long positions and 5-10 short positions in our quarterly newsletter every quarter. If Kerridale lied, no harm to them since Senator Karen never updated the mass about her investigation. 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