Digital Brands Retains Law Firm to Investigate Market Manipulation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Digital Brands announced that the company has retained the law firm of Christian Attar, a market manipulation and naked short litigation firm located in Houston, Texas, to an investigation of any potential naked short selling or other market manipulation of common shares of Digital Brands Group. Additionally, the company engaged Shareholder Intelligence Services in June to support efforts to investigate and address potentially illegal trading activity. This includes suspected naked short selling and market manipulation involving the company's common stock. The decision to engage Christian Attar and ShareIntel follows an internal review of trading patterns that raised concerns regarding potential violations of securities laws, including naked shorting, spoofing, market manipulation, collusion, acting in concert, multiple violations of the 4.99% rule, using foreign silent partners as nominees and transfer agent discrepancies. ShareIntel will track all shareholder data, including share ownership, purchases, sales and custody by individuals, institutions, broker-dealers, clearing agents and custodians and communicate findings to shareholders.
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Analyst Views on DBGI
About DBGI
Digital Brands Group, Inc. specializes in e-commerce and fashion, which offers a variety of apparel through numerous brands on both a direct-to-consumer and wholesale basis. The Company is a modern retail and technology ecosystem reshaping the shopping experience. It focuses on owning the customer’s closet share by leveraging their data and purchase history to create personalized targeted content and looks for that specific customer cohort. Through its suite of technology tools, including artificial intelligence (AI)-powered IP protection, automated marketing, and advanced data security, each portfolio brand is able to cultivate its identity while scaling more efficiently and securely. Its brands include Bailey 44, DSTLD, Stateside, Sundry, and AVO. Bailey 44 is a contemporary womenswear brand that combines beautiful, luxe fabrics with on-trend designs in the date night category. Stateside is a womenswear crafted with natural fabrics and cut embodying relaxed elegance.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
