Upexi Files Federal Lawsuit for Alleged Stock Split Manipulation and 19% Dilution | UPXI Stock News
Upexi, a company listed on the NASDAQ under the ticker symbol UPXI, has taken a significant step by filing a complaint in the U.S. District Court for Nevada. Their goal? To investigate and pursue legal action against those suspected of manipulating shares during a recent reverse stock split.
During this split, something fishy happened. Financial institutions requested a whopping 202,183 round-up shares, leading to a shareholder dilution of over 19%. This sudden increase in individual shareholders—approximately 40 times more—raised eyebrows. What’s even more suspicious is that this activity took place over just three days, starting from the split announcement to the effective date.
And here’s the kicker: Upexi is not alone in this. Other Nasdaq-listed companies have also been impacted by similar manipulation tactics. This is a significant issue in the world of finance and securities exchange, and it’s crucial that these allegations are thoroughly investigated and addressed.
