Scilex Holding Company Retains Warshaw Burstein, LLP and Christian Attar Law to Investigate Potential Naked Short Selling and Various Market Manipulation of Its Stock Price
10/11/2023 | Yahoo! FinanceScilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, has retained Warshaw Burstein, LLP and Christian Attar Law to investigate potential naked short selling activities, short positions, lending program activities and constitute market manipulation of its restricted shares of common stock that were part of the previously announced dividend of Scilex common stock (the “Restricted Dividend Shares”) then-held by Sorrento Therapeutics, Inc. (OTC: SRNEQ, “Sorrento”) that breach the restrictions on transfer which are currently in place through March 31, 2024 on these Restricted Dividend Shares.
Recently, Warshaw Burstein and Christian Attar Law prevailed against formidable opposition from major banks and brokerage houses in a decision in the U.S. district court for the southern district of New York holding that broker-dealers could be held primarily liable for failing to fulfill their “gate-keeping responsibilities” of monitoring their clients’ trading activities.
