VERB Begins Implementation of Comprehensive Plan to Combat Illegal Naked Short Selling of Its Shares
February 06 2023 - 08:30AM
GlobeNewswire Inc.
Verb Technology Company, Inc. (Nasdaq:
VERB) ("VERB" or the "Company"), the leader in interactive
video-based sales-enablement applications, including MARKET.live,
its livestream social shopping platform, announces today that it
has recently engaged ShareIntel – Shareholder Intelligence
Services, among other forensic professionals, and an investigation
into potential illicit trading activity in its shares, and those
responsible, is underway.
ShareIntel’s experienced team of professionals, leveraging their
proprietary “Data Repository Information Link” (DRIL-DownTM)
technology, combine and analyze data from clearing firms,
broker-dealers, reporting entities, and other sources to provide
actionable intelligence. This analysis will help serve to direct
the course of actions VERB’s board may implement to protect the
Company’s shareholders.
“While we intend to move swiftly, we will move thoughtfully,
guided and driven by the data,” states Rory J. Cutaia, VERB CEO.
“In addition to possible enforcement actions, our board is
currently considering shareholder focused initiatives, including
the issuance of a special dividend. We are also paying close
attention to the work other companies are doing to combat illicit
trading activity, as we consider adopting those strategies and
initiatives that appear to produce the most promising results.
Among those strategies are Genius Group’s issuance of an NFT to
shareholders for Genius Group’s services, an innovative initiative
we applaud, and a version of which may be particularly interesting
for our shareholders, for products available on our MARKET.live
livestream social shopping platform.”
“With our recent capital raise behind us and our senior secured
debt paid off, we are committed to taking the appropriate actions.
Our objective is to protect our shareholders and based on the data
and advice of the professionals we have engaged, we have made it
clear that everything is on the table.”
About VERB
Verb Technology Company, Inc. (Nasdaq: VERB), the market leader
in interactive video-based sales applications, transforms how
businesses attract and engage customers. The Company’s MARKET.live
platform is a multi-vendor, multi-presenter, livestream social
shopping destination at the forefront of the convergence of
ecommerce and entertainment, where hundreds of retailers, brands,
creators and influencers can monetize their base of fans and
followers across social media channels. The Company’s
Software-as-a-Service, or SaaS platform, based on its proprietary
interactive video technology, is comprised of a suite of sales
enablement business software products offered on a subscription
basis. Its software applications are used by hundreds of thousands
of people in over 100 countries and in more than 48 languages.
VERB’s clients include large sales-based enterprises as well as
small business sales teams, including the sales and marketing
departments of professional sports teams. With approximately 150
employees and contractors, the Company is headquartered in Lehi,
Utah, and maintains offices in Newport Beach, California.
Follow VERB here:VERB on
Facebook: https://www.facebook.com/VerbTechCo/VERB
on Twitter: https://twitter.com/VerbTech_CoVERB on
LinkedIn:
https://www.linkedin.com/company/verb-tech/VERB on
YouTube:
https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ
FORWARD-LOOKING STATEMENTSThis communication contains
"forward-looking statements" as that term is defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks and uncertainties and include, without
limitation, any statement that may predict, forecast, indicate or
imply future results, performance or achievements, and may contain
words such as "anticipate," "expect," "project," "plan," or words
or phrases with similar meaning. Forward-looking statements
contained in this press release relate to, among other things, the
Company's success in identifying illegal trading activity in its
stock and its efforts to address and eliminate such activity.
Forward-looking statements are based on current expectations,
forecasts and assumptions that involve risks and uncertainties. If
any of these risks or uncertainties materialize, or if any of our
assumptions prove incorrect, our actual results could differ
materially from the results expressed or implied by these
forward-looking statements. Investors are referred to our filings
with the Securities and Exchange Commission, including our Annual
Reports on Form 10-K and Quarterly Reports on Form 10-Q, for
additional information regarding the risks and uncertainties that
may cause actual results to differ materially from those expressed
in any forward-looking statement. All forward-looking statements in
this press release are based on information available to us as of
the date hereof, and we do not assume any obligation to update the
forward-looking statements provided to reflect events that occur or
circumstances that exist after the date on which they were made,
except as required by law.
Investor Relations:888.504.9929investors@verb.tech
Media Contact:855.250.2300, ext.125info@verb.tech
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