The mystery deepens... Wonder how the investiga

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Posted On: 12/30/2024 1:55:04 PM

Posted By: redspeed

The mystery deepens...

Wonder how the investigation is going, to expose apparent stock manipulation through bogus fractional share roundup ploy as PR's 2 months ago?

The anomaly detected here is very intriguing by clicking on on Time & Sales

https://investorshangout.com/timeandsales/VERB

The historical records suggest these one share trades have been going on for weeks.

Could Fidelity be the key to solving the mystery i.e. "certain recently identified brokerage firms and clearing houses"?

If someone/bodies bought 260,000 shares in 260,000 accounts, wouldn't they have no mo' shares as they were paid out in cashola?

If so, why would there be so many 1 share transactions if them there someone/bodies had no mo' shares?

Further investigation is needed...

Quote:
VERB Regains Nasdaq Listing Compliance
October 28, 2024 8:30am EDT

Opens Investigation to Expose Apparent Stock Manipulation Through Bogus Fractional Share Roundup Ploy Following Reverse Stock Split
LOS ALAMITOS, Calif. and LAS VEGAS, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Verb Technology Company, Inc. (Nasdaq: VERB) ("VERB" or the "Company" , the company behind MARKET.live, a leading livestream social shopping platform, and GO FUND YOURSELF!, a TV show and innovative new platform disrupting the crowd funding industry, today announced that on October 23, 2024, the Company received a letter from the Nasdaq Stock Market stating that the Company had regained compliance with the minimum bid price requirement of $1.00 per share for continued listing on the Nasdaq Stock Market, as set forth in Nasdaq Listing Rule 5550(a)(2).

Separately, the Company today announces that it has begun an investigation of apparent price manipulation in the trading of its shares following the Company’s announcement of a stockholder approved reverse stock split.

On October 4, 2024, the Company announced that its stockholders had voted to authorize its Board to implement a 1-for-200 reverse stock split in order to retain the Company’s Nasdaq listing and that the shares would begin trading on a split-adjusted basis on October 9, 2024.

Prior to the foregoing announcement, the Company estimates that there were approximately 40,000 beneficial owners of the Company’s stock. Assuming every single shareholder was entitled to a round-up share, which is highly unlikely, that would mean the Company would issue 40,000 shares to address any stockholders left with a fractional share following the reverse split. However, post-split, certain recently identified brokerage firms and clearing houses have requested roundup shares totaling more than 260,000 shares of the Company's common stock - notwithstanding the fact that the Company’s total public float immediately post-split was less than 800,000.

Not coincidentally, the Company became aware of a significant increase in short positions in its stock at or around the same time – and around the same number of round-up shares as those requested by these brokerages and clearing houses.

And VERB is not the only company who has been subject to this same apparent manipulation. The Company knows of at least two other companies who are experiencing the same thing. The Company’s management is in communication with leadership at other affected companies and is seeking to coordinate efforts while actively pursuing the engagement of securities fraud counsel to investigate the facts, determine if there has been illicit activity affecting the Company, and if so, moving aggressively to hold those responsible accountable through swift private legal action as well as through the intervention of securities regulators.

“Do not underestimate our resolve to protect our company and our stockholders,” stated Rory J. Cutaia, VERB Chairman & CEO. “For those of you waiting to receive your 260,000 round-up shares, here’s some advice, don’t hold your breath.”