Lunai Bioworks alleges abusive short selling in lawsuit against Seven Points Capital, others
LNAI•Lunai Bioworks asked Nasdaq to immediately suspend trading in its common stock while regulators review trading records tied to its pending lawsuit against Seven Points Capital and others. Nasdaq has not decided on the request, which does not itself halt trading.
1. Suspension request
Lunai Bioworks asked Nasdaq to immediately suspend trading in its common stock while regulators review trading records tied to pending litigation. The request cites court-ordered discovery in Lunai Bioworks v. Seven Points Capital, pending in Delaware federal court.
2. Allegations remain pending
The submission alleges substantial short selling, locate deficiencies and concentrated failures to deliver that could indicate an unfair or disorderly market. Nasdaq has not decided on the request, and the lawsuit’s allegations have not been adjudicated.
