VivoPower Board Establishes Illegal Market Manipulation Task Force
Portfolio Pulse from Benzinga Newsdesk
VivoPower International PLC (NASDAQ: VVPR) has approved an action plan to address alleged illegal market manipulation, including false information dissemination and naked short selling of its stock. The company has created a Board-led 'Illegal Market Manipulation Task Force' to work with regulators in identifying and prosecuting those involved in market manipulation of VivoPower shares over the past year. VivoPower has engaged an external forensic investigation firm and specialist UK and US legal counsel.
October 31, 2023 | 1:27 pm
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POSITIVE IMPACT
VivoPower's action against alleged market manipulation could potentially restore investor confidence and stabilize its stock price.
The company's proactive approach to address the alleged market manipulation shows its commitment to uphold governance standards. This could potentially restore investor confidence, leading to increased demand for its shares and a potential increase in its stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100