Scilex Holding said it sent a letter to both the Securities and Exchange Commission and Financial Industry Regulatory Authority “regarding illegal market manipulation of the common stock of Scilex.” The practice of manipulative or abusive “naked short” selling or maintaining “naked short” positions may constitute a violation of SEC Regulation SHO, the company said in a statement. Scilex Management “is determined to combat manipulative and illegal short selling of Scilex common stock which has the effect of reducing shareholder value and infringing on shareholders’ rights.”
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