Tag: BBIG Stock (Page 1 of 3)

BBIG Investors Now Take On Toxic Lenders in New Lawsuit

BBIG investors now take on toxic lenders in a new lawsuit which seeks rescissionary damages in excess of $250 million.

This action is led by Shadwrick Vick on behalf of VINCO shareholders.

The lawsuit alleges that Hudson Bay Master Fund Ltd., Sander R. Gerber, Yoav Roth, BHP Capital NY, Inc., and Bryan Pantofel, have engaged in “predatory lending practices in violation of federal securities law,” according to a new press release.

The lawsuit was filed in the United States District Court for the Southern District of New York and accuses the defendants of violating Section 15(a) of the Securities Exchange Act of 1934 by failing to register as “dealers,” despite engaging of the practice of buying and selling securities for their own benefit.

“Defendants practices are demonstrated by the fact that they have made similar unlawful, predatory loans to publicly traded companies, including VINCO, that caused the issuance of millions, if not billions, of newly-issued shares to the to the company and its shareholders,” the press release states.

Mark Basile’s The Basile Law Firm P.C. has helped lead several retail cases involving fraud, including that of Vinco Ventures.

“One problem with our markets are the unregistered broker-dealers issuing toxic funding to all to willing over-paid executives who forget their fiduciary duty to the company & stake holders,” says @MemeStockMillyz on X.

“BBIG shareholders are making headway in fighting for justice. I’ve personally been financially devastated by bad actors,” says another user.

This is a developing story — for more market news and updates like this, follow me on Twitter or join the popup newsletter.

Also Read: Missing MMTLP Certificates Now Back Up Possibility of Illegal Trading

Other Market News Today

Market News Today - BBIG Investors Now Take On Toxic Lenders in New Lawsuit.
Market News Today – BBIG Investors Now Take On Toxic Lenders in New Lawsuit.

South Korea now speaks on the impact of illegal short selling after the illicit practice accounted for 20% of daily transactions.

Financial watchdogs have vowed to continue rooting out the malpractice in the markets.

“The FSS found that the violation rate exceeded 20% in some cases, which suggests that illegal transactions have a big impact on a certain stock,” the financial regulator said in a statement late Tuesday.

“It’s necessary to consider the impact of illegal short sales on an individual stock as such trades hinder fair pricing and increase short-term volatility,” it said.

Bloomberg reports the South Korea’s financial watchdogs derived the 20% figure by dividing the amount of violated orders on a certain stock by its daily trading value.

The FSS did not identify the equities that saw illegal trades and declined to say how frequently the trades exceeded that ratio.

In November, South Korea imposed a ban on short selling through mid-2024, a decision that drew big celebration from retail investors in the country.

Professional investors on the other hand are skeptical, seeing the move as being politically motivated ahead of the election.

Financial authorities have defended the decision, describing illegal trades such as naked short selling — an act of selling shares without borrowing them first — as “rampant” and hurting fairness in the market, reports Bloomberg.

Furthermore, Bloomberg reported on Monday that investigators have turned up just 110 billion won worth ($83 million) of alleged naked short selling by four global investment banks.

In the U.S., naked short selling continues to be a big problem.

Citadel Securities is currently under heavy scrutiny for marking short sales as long sales over a period of five years.

Investors in the AMC, MULN, GTII, FNGR, and MMTLP communities are just a few of many who have been raising awareness of the malpractice happening in the U.S stock market.

Also Read: SEC Commissioner Now Says Securities Lending Facilitates Illegal Trading

Market News Published Daily 📰

Market News Today - BBIG Investors Now Take On Toxic Lenders in New Lawsuit.
Market News Today – BBIG Investors Now Take On Toxic Lenders in New Lawsuit.

Don’t forget to opt-in for push notifications so you don’t miss a single article!

Also, thank you to all of our blog sponsors.

This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.

Scroll below to view my stock purchases this month!

You can also follow me on X (Twitter)InstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Frank Nez’s Stock Portfolio

Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?

Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.

11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.



Free Live Daily Updates: AMC Short Interest Today + More

AMC Short Interest Today

Free Live Daily Updates: AMC Short Interest Today + More.

Community, I’m going to be updating this list of momentum stock and their short interest and utilization daily (AMC short interest, BBIG, MULN, BIOR, GME, APE, and many others).

Be sure to bookmark this page for daily AMC short interest updates and more.

Other metrics being updated daily will include the cost to borrow, shares on loan, + short squeeze scores.

If there are other heavily shorted stocks you’d like me to update daily, please leave a comment below and I’ll be sure to look into them before adding them to the list!

– Frank Nez

Franknez.com

#1. MMAT Short Interest

Short Interest: 10.73% | Utilization: 90.77 | Cost To Borrow: 17.05 | Shares On Loan: 39.24 Million | Days To Cover: 9.03

MMAT Short Squeeze Score: 84

(Updated Daily)

Market News Today - Senator Inquiries Now Grow on The MMTLP Scandal

Retweet This Article on Twitter ⬇️


#2. AMC Short Interest Today

Short Interest: 7.80% | Utilization: 47.70 | Cost To Borrow: 1.79 | Shares On Loan: 22.26 Million | Days To Cover: 1.22

AMC Short Squeeze Score: 57

(Updated Daily)

Market News Today - AMC CEO Now Identified As Extortion Bid Victim

Retweet This Article on Twitter ⬇️


#3. GME Short Interest

Short Interest: 20.52% | Utilization: 85.30 | Cost To Borrow: 2.96 | Shares On Loan: 72.73 Million | Days To Cover: 24.36

(Updated Daily)

GME Short Squeeze Score: 86

Click the image to read the latest GameStop news article.

Retweet this article on Twitter ⬇️


#4. MULN SI

Short Interest: 19.70% | Utilization: 88.31 | Cost To Borrow: 15.55 | Shares On Loan: 73.37 million | Days To Cover: 1.35

(Updated Daily)

MULN Short Squeeze Score: 75

MULN Stock News
Click the image to read the latest MULN stock news aritlce.

Repost this article on Twitter ⬇️


#5. LCID SI

Short Interest: 25.37% | Utilization: 96.03 | Cost To Borrow: 10.99 | Shares On Loan: 355.08 Million | Days To Cover: 10.86

(Updated Daily)

LCID Short Squeeze Score: 86

Daily Market News

FrankNez - Daily Market News and stock updates.
FrankNez – Daily Market News and stock updates.

For more stock market, business news and updates, join the newsletter to receive weekly market news and notifications straight to your inbox.

Franknez.com is the media blog that keeps retail investors informed.

You can also follow me on TwitterInstagramFacebook, or LinkedIn for daily posts.

Related: This is What’s Stopping AMC From Squeezing Today



Investors Are Now Fighting to Keep BBIG Listed

Market News Daily - Investors Are Now Fighting to Keep BBIG Listed.
Market News Daily – Investors Are Now Fighting to Keep BBIG Listed.

Investors are now fighting to keep BBIG (Vinco Ventures) listed on Nasdaq after the ticker was suspended on July 28.

BBIG stock fell more than -61% that Friday as delisting of the security became pending according to Nasdaq’s listing center.

Complete delisting of BBIG stock will effectively erode all shareholder value, wiping out accounts as recently seen with AMC’s competitor, Cineworld/Regal.

In early July, Vinco Ventures disgracefully announced the resignation of three board members in the midst of multiple scandals, which have involved failure to file Form 10-K and 10-Q, broken company promises, and overall failure to hold its fiduciary obligations to shareholders.

Plaintiffs in the BBIG lawsuit have filed an emergency motion after the request for a Receiver was denied.

A hearing will now take place on Thursday, August 3rd where Plaintiffs will fight to keep BBIG stock listed on the Nasdaq exchange as they attempt to hold board members accountable.

A petition to support the emergency motion is now gaining momentum on social media.

“We believe that prompt intervention by the Court is necessary to protect the value of our investments and to enable Vinco Ventures to regain compliance with NASDAQ rules.

The appointment of custodians and board members will facilitate transparent and diligent management, fostering confidence among shareholders and potential investors.

We entrust the Court’s wisdom and authority to consider the urgency of the situation and act in the best interest of the company and its shareholders.

We respectfully request that this petition be presented to the Court in conjunction with the Emergency Motion to demonstrate the united support of shareholders seeking the appointment of custodians and board members,” states the petition.

Comments from The Community

Market News Daily - Investors Are Now Fighting to Keep BBIG Listed.
Market News Daily – Investors Are Now Fighting to Keep BBIG Listed.

Shad Vick, an investor and Plaintiff in the BBIG lawsuit is urging retail investors to sign the petition in efforts to strengthen the emergency motion.

“This will show support for the motion for custodian/board members and receiver to strengthen our chance to get on NASDAQ. The court will be able to see your support.”

Nearly 1,000 investors have already signed the petition in support of the BBIG Family.

Backing up BBIG investors is Mark Basile, who was recently hired to investigate the last 4 years of corporate board actions.

Some of these actions include claims of self-dealing and self-enrichment, diversion of assets, unlawful funding transactions, and breach of numerous possible laws and violations.

“We are just getting our feet wet on this matter, but do have a lot of colorful background supplied to us by the great BBIG community.

The recent Board resignations are troubling, perhaps directly connected with the local Nevada State Court action brought by a few shareholders looking for information on board activities.

But if they think that the State court action is the end of it, well, they may have another thing coming.

I cannot comment on the substantive issues just yet, but we are looking into the entire scope of potential wrongdoing that may result in a federal lawsuit under certain Securities and/or RICO laws,” Basile commented exclusively for FrankNez.

This is a developing story. For more market news and updates, join the newsletter below. More than 10,000 readers have already joined this year. Share this article to raise awareness.

Market News Published Daily 📰

Market News Today - JPMorgan to Pay $290 Billion in New Epstein Case.
Market News Today – Investors Are Now Fighting to Keep BBIG Listed.

Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!

THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


BBIG Shareholders File an Emergency Motion in New Update

Market News Daily - BBIG Shareholders File an Emergency Motion in New Update.
Market News Daily – BBIG Shareholders File an Emergency Motion in New Update.

BBIG shareholders have filed an emergency motion in the Vinco Ventures lawsuit according to a new update provided by Plaintiffs.

“Plaintiffs Shadwrick J Vick, Christopher L Muntz, and Daryl Wayne Genis, by and through their attorneys of record, Hutchison & Steffen, PLLC, hereby submit their EMERGENCY MOTION TO APPOINT CUSTODIANS FOR THE COMPANY OR TO COMPLY WITH NASDAQ RULES TO AVOID PERMANENT DELISTING OR ALTERNATIVELY, APPOINTMENT OF A RECEIVER,” said the motion filed.

On July 14, shareholders requested for a Receiver, an agent of the court that is appointed by the judge (usually at the request of one of the parties.)

The Receiver’s responsibility is to ensure that property is protected or the business operates without interference or influence from the lawsuit parties.

However, the request for a Receiver was denied a week later.

Now Plaintiffs have hired the services of Mark Basile, who is also working on the MMTLP motion, to investigate the last 4 years of corporate board actions.

Some of these actions include claims of self-dealing and self-enrichment, diversion of assets, unlawful funding transactions, and breach of numerous possible laws and violations.

“This investigation is not being limited to the Board of Directors, but will also include all funders, professionals and consultants that have counseled, approved, recommended or facilitated the above,” said Mark in a statement.

“We are just getting our feet wet on this matter, but do have a lot of colorful background supplied to us by the great BBIG community.

The recent Board resignations are troubling, perhaps directly connected with the local Nevada State Court action brought by a few shareholders looking for information on board activities.

But if they think that the State court action is the end of it, well, they may have another thing coming.

I cannot comment on the substantive issues just yet, but we are looking into the entire scope of potential wrongdoing that may result in a federal lawsuit under certain Securities and/or RICO laws,” Basile commented exclusively for FrankNez.

Vinco Ventures Fails Its Shareholders

Market News Daily - BBIG Shareholders File an Emergency Motion in New Update.
Market News Daily – BBIG Shareholders File an Emergency Motion in New Update.

The emergency motion states that Vinco Ventures has failed on numerous occasions to file its From 10-K and 10-Q.

“The Company has only seven (7) days in which to comply with the violated rules and/or request a review of the delisting determination by a hearings panel.

Otherwise, the Company will be unable to voluntarily correct its delisted status and will have to re-apply for permission to be listed on NASDAQ which is a difficult and time-consuming process, and has no guaranteed outcome.”

Plaintiffs argue that the court should appoint custodians over the Company to ensure that the Company complies with its obligations and avoid permanent delisting.

“The failure by the remaining Board members to comply with NASDAQ’s requirements, including the requirement to appoint three (3) disinterested directors, constitutes a further breach of the Board’s fiduciary duties and is tantamount to irreparable harm.

The harm from the Board’s wrongful actions to both the Company and its shareholders, including the Plaintiffs, cannot be overstated.

Without the ability to be traded on NASDAQ – the second largest trading platform in the United States – the Company is relegated to a so-called “quotation market” which means that institutional investors such as Goldman Sachs, Morgan Stanley, etc., are not allowed to invest or fund the Company, and the Company cannot even become involved financially with the over-the-counter (“OTC”) markets,” states the BBIG emergency motion.

Plaintiffs also argue that Vinco Ventures is at risk of losing all of its ‘white papers’ on its technology, which in turn is detrimental to the company and its shareholders.

BBIG stock is currently down more than -94% this year-to-date and more than -96% in the past year.

Mark Basile on New BBIG Emergency Motion

“This new motion has a decent chance of success as the BOD failures pile up.

Judge is going to be PISSED the BOD and their attorneys withheld material information during the Receiver oral argument, releasing it officially the next day while sitting on it for several.

They filed the very last day they could regarding SEC disclosure requirements. That doesn’t change the fact they mislead the court because THEY HAD THIS INFORMATION at the hearing.

Dirty tricks – Now the double delisting, $120m vanished, fraudulent Preferred Shares – looks like a major financial raid and cover up.

A specific former Board Member should consider being part of the solution because right now, it’s just doesn’t look good,” said Mark on Twitter.

This is a developing story. For more market news and updates, join the newsletter below. More than 10,000 readers have already joined this year. Share this article to raise awareness.

Also Read: New Data Shows BBIG Dark Pool Volume Skyrocket

Market News Published Daily 📰

Market News Today - BBIG Shareholders File an Emergency Motion in New Update.
Market News Today – BBIG Shareholders File an Emergency Motion in New Update.

Join the newsletter ⬅️ to receive daily stock market news, business news and updates straight to your inbox; more than 10,000 readers have joined!

THANK YOU to all of our blog sponsors, this year we’ve been able to increase our email sends and signup slots as well as introduce push notifications.

Franknez.com is the media site that keeps retail investors informed.

You can also follow Frank Nez on TwitterInstagramFacebook, or LinkedIn for daily news and updates on your favorite stories.


Become a Sponsor for only $1/mo.

  • Gain access to EXCLUSIVE FrankNez articles you won’t find here.
  • Become part of a private and safe Discord community, just for retail investors.
  • Get drawn at the end of the year for holiday giveaways.


« Older posts

© 2024 Franknez.com

Theme by Anders NorenUp ↑