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Laser Photonics Considers Legal Action Over Short Report Alleging Affiliated Individual Misconduct; Says It Commits To Transparency As Short Sellers Attempt Manipulation

Benzinga ·  Oct 8 21:45

Recent Trading Activity and Stock Volatility

The Company believes positive news surrounding LPC, particularly the excitement generated by the LSAD concept, contributed to significant stock volatility in September. LPC shares rose from $3.29 on September 3 to an intraday high of $19.80 on September 23. This price movement attracted the attention of short sellers. LPC recently became aware of a short report published after the writer had already taken a short position, attempting to manipulate the stock price for profit. The Company is actively exploring legal options and wishes to clarify the following:

  • The report centers on allegations involving an individual affiliated with, but not employed by, or a director of, LPC. This individual is not involved in the Company's day-to-day operations.
  • The individual referenced has never been convicted of any felony, including the claims made in the report.
  • The report was released post short-positioning, suggesting an intent to manipulate the stock price downward for personal gain.

LPC remains committed to providing shareholders with transparent and timely updates as the Company continues to grow across its core business segments.

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