Mangoceuticals, Inc. Initiates Investigation into Potential Stock Manipulation Scheme Following Recent Reverse Stock Split [Yahoo! Finance]
Upexi, Inc. (UPXI)
Company Research
Source: Yahoo! Finance
selling men's health and wellness products via a secure telemedicine platform, today announced that it has launched an investigation into potential stock manipulation related to and following its recent reverse stock split, which was effective as of October 16, 2024. This decision follows a comprehensive review of highly irregular trading patterns and an unprecedented increase in the number of shareholder accounts, factors that collectively raise concerns about potential stock manipulation. This investigation also follows a recent request the Company received from the Depository Trust Company Corporation (DTC) whereby DTC requested from MangoRx's transfer agent delivery of an additional 213,327 shares of MangoRx's common stock reflecting the “round-up” of fractional shares outstanding on a post-reverse split basis. This requested amount represents approximately 9% of MangoRx's total issued and outstanding shares based on a total of approximately 2.4 million shares outstanding on a p
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