Applied UV, Inc. Retains Legal Counsel to Investigate Potential Illegal Naked Short Selling
January 27 2023 - 07:00AM
Business Wire
Applied UV, Inc. (Nasdaq CM: AUVI) (“Applied UV” or the
“Company”), a global technology leader that applies the power of
narrow-range ultraviolet light (“UVC”) and catalytic bioconversion
technology for air purification, today announced that it has
engaged the services of Herrick, Feinstein LLP to investigate
potential illegal short selling of the Company’s stock.
Applied UV has reason to believe that market participants may
have engaged in illegal short selling practices, which could
adversely impact the market integrity of the Company’s stock. “We
are concerned that there may have been certain illegal activities
with respect to the trading of our securities, which we cannot
tolerate,” said Max Munn, CEO of Applied UV, Inc. “Accordingly, on
behalf of the Company, we have engaged outside counsel to
aggressively investigate these activities and take whatever steps
that are appropriate to protect the Company and its
shareholders.”
Herrick Feinstein’s efforts will be led by Mr. Howard Elisofon,
a nationally renowned litigator. Mr. Elisofon is a former SEC Trial
Attorney and the current Co-Chair of Herrick’s Securities Law &
Enforcement Practice.
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About Applied UV
Applied UV, Inc. (“AUVI”) develops and acquires proprietary
infection prevention and control technology in the healthcare,
commercial & public venue, food processing/storage, cannabis,
and education, vertical markets. The Company has two wholly owned
subsidiaries - SteriLumen, Inc. (“SteriLumen”) and Munn Works, LLC
(“Munn Works”). SteriLumen owns and markets a portfolio of products
with advanced pathogen elimination technology, branded Airocide ®
by SteriLumen, Scientific Air™ by SteriLumen, Airoclean™ 420 by
SteriLumen, and Lumicide™ by SteriLumen.
The Company’s acquisition of Puro Lighting, LLC adds a powerful
monitoring software platform that opens new opportunities to
inter-connect its portfolio of UV technology solutions. The
platform has the potential to elevate Applied UV’s offerings into
the IoT space by providing its customers with both products and
smart tools to manage and monitor indoor air quality across an
enterprise.
Leading organizations globally rely on AUVI’s air purification
systems to completely eliminate airborne and surface infections,
mold, bacteria, allergens and other contaminants. Our customers
include Kaiser Permanente, NY Health+Hospitals, Baptist Health
South Florida, Boston Red Sox’s Fenway Park, JetBlue Park, France’s
Palace of Versailles, Invited Clubs, Whole Foods, Del Monte Foods,
U.S. Department of Veterans Affairs and more.
NASA used Airocide's technology to sanitize the International
Space Station.
Scientifically proven to reduce Healthcare Acquired Infections
(HAI), Scientific Air™ offers a proprietary 3-stage technology
integrating HEPA filters, ultraviolet germicidal light chamber and
active carbon substrate.
For information on Applied UV, Inc., and its subsidiaries,
please visit the following websites:
https://www.applieduvinc.com https://www.sterilumen.com
https://airoclean420.com
Forward-Looking Statements
The information contained herein may contain “forward‐looking
statements.” Forward‐looking statements reflect the current view
about future events. When used in this press release, the words
“anticipate,” “believe,” “estimate,” “expect,” “future,” “intend,”
“plan,” or the negative of these terms and similar expressions, as
they relate to us or our management, identify forward‐looking
statements. Such statements include, but are not limited to,
statements contained in this press release relating to the view of
management of Applied UV concerning its business strategy, future
operating results and liquidity and capital resources outlook.
Forward‐looking statements are based on the Company’s current
expectations and assumptions regarding its business, the economy
and other future conditions. Because forward–looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict.
The Company’s actual results may differ materially from those
contemplated by the forward‐looking statements. They are neither
statements of historical fact nor guarantees of assurance of future
performance. We caution you therefore against relying on any of
these forward‐looking statements. Factors or events that could
cause the Company’s actual results to differ may emerge from time
to time, and it is not possible for the Company to predict all of
them. The Company cannot guarantee future results, levels of
activity, performance, or achievements. Except as required by
applicable law, including the securities laws of the United States,
the Company does not intend to update any of the forward‐looking
statements to conform these statements to actual results.
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version on businesswire.com: https://www.businesswire.com/news/home/20230125005197/en/
Applied UV Inc. Max Munn Applied UV Inc., CEO
max@munnworks.com
Brett Maas, Managing Principal Hayden IR brett@haydenir.com
(646) 536-7331
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