Quantum Cyber sues White Diamond Research, Stocktwits for alleged market manipulation, seeks $5.69 million damages
QUCY•Shares fell after the report
QUCY shares fell about 13.7% from the June 26 open to the June 30 close; the market value drop exceeded about $5.69 million.
Quantum Cyber files suit over alleged market manipulation
Quantum Cyber filed suit in New York Supreme Court against White Diamond Research, Adam Gefvert and Stocktwits over alleged market manipulation, conspiracy and defamation.
The complaint seeks more than $5.69 million in damages, plus exemplary damages.
Company challenges June 29 report and Stocktwits amplification
The filing targets a June 29 report the company calls false, misleading and disparaging, alleging the authors profited via short positions.
Stocktwits is accused of amplifying the report to millions and pushing it to Apple Stocks and Yahoo Finance without disclosing short-selling interest.
