1847 Holdings says may have been target of market manipulation

1847 Holdings provided a report on its ongoing investigation into potentially improper and/or illegal trading activities, including naked short selling, of the company’s common stock. On November 3, 2022, the company engaged Shareholder Intelligence Services to utilize their patented, proprietary service offerings to obtain share trading analytic metrics designed to help coordinate, monitor and enhance corporate governance, shareholder communication, regulatory compliance and surveillance of trading in the company’s shares in an effort to allow company to better monitor trading activity, including potential violations of SEC Regulation SHO, which governs stock and option share locate, close out and fail to deliver requirements. Based on an initial analysis of the company’s historic stock trading activity, the company believes that it may have been the target of market manipulation and potentially illegal trading activities, including naked short selling of its stock. As such, the company is exploring all of its potential options and remedies. Ellery W. Roberts, CEO of 1847 Holdings, commented, “Due to ShareIntel’s investigation, we have become aware of trading imbalances. We will delve deeper into the discrepancies identified in the analysis and contact necessary parties such as brokers, Broadridge, and the SEC to gather more information and ensure adherence to regulatory standards. We remain diligent and committed to taking all necessary actions to protect the interests of our shareholders, and will continue to work with ShareIntel and other partners to combat illegal short selling.”