02:46 PM EDT, 05/30/2024 (MT Newswires) -- Scilex ( SCLX ) said Thursday it has asked the the US Securities and Exchange Commission and the Financial Industry Regulatory Authority to investigate alleged market manipulation of its stock.

"It is our belief that the company's common stock, including the dividend shares...have been attacked by various forms of market manipulation," Executive Chairman Henry Ji said in a letter to both regulators.

Citing credible information, Scilex ( SCLX ) alleged that there were around 10 million of its shares that were being sold short and over 10 million other shares that have been sold as "naked short" on or after January 2023 that have not been covered.

"I respectfully request you open an investigation of anomalous trading of Scilex ( SCLX ) common stock," Ji said.

The SEC and FINRA did not immediately respond to requests for comment from MT Newswires.