NetworkNewsBreaks – FingerMotion Inc. (NASDAQ: FNGR) Releases Update on Federal Lawsuit Filed Against Research Firm
FingerMotion (NASDAQ: FNGR), a mobile services and data company, is reporting an update on the federal lawsuit it filed against Capybara Research last month; the lawsuit alleges that Capybara maliciously published a defamatory article in a premediated attempt to move the public market for FingerMotion’s stock lower to benefit from its previously announced short position. According to the update, the company and its litigation counsel, with cooperation from third parties, has spent weeks of work investigating the allegations. As a result, the person responsible for the malicious article has been identified, and the company is taking steps to add that individual to the lawsuit. In addition, FingerMotion announced that it has also added Benzinga to the lawsuit, alleging that the social media outlet republished the Capybara report along with other false reports that continue to harm FingerMotion’s retail investment community. “We are committed to legally pursuing the Capybara short and distort campaign as well as all media outlets that irresponsibly reported the false, misleading and defaming Capybara Report,” said FingerMotion CEO Martin Shen in the press release.