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Scilex Calls for Investigation Into Alleged 'Naked Short' Stock Manipulation
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Scilex Calls for Investigation Into Alleged 'Naked Short' Stock Manipulation
May 24, 2024 11:45 AM

02:26 PM EDT, 05/24/2024 (MT Newswires) -- Scilex Holding ( SCLX ) said Friday it sent a letter to the US House of Representatives requesting an investigation into alleged illegal market manipulation of its common stock through "naked short" selling.

Scilex ( SCLX ) claims about 10 million shares sold short and 44 million shares in substantial "naked short" positions.

The company called for an inquiry to determine the scope of such abnormal trading and whether any regulations and laws, including the Securities and Exchange Commission Regulation SHO, were violated, impacting shareholder value.

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