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The amended complaint names 10 defendants, including 3 FINRA registered broker-dealers.
Lunai Bioworks Inc. (LNAI) filed an amended Racketeer Influenced and Corrupt Organizations (RICO) complaint on Monday, expanding its lawsuit against alleged naked short-selling. The complaint names 10 defendants, including three Financial Industry Regulatory Authority (FINRA) registered broker-dealers, in connection with a coordinated scheme that purportedly generated failures to deliver on more than 81% of the company's outstanding shares.
The amended complaint alleges that the defendants engaged in a coordinated effort to manipulate the market for Lunai Bioworks' stock through naked short-selling, resulting in significant failures to deliver. The company claims that this scheme has adversely affected its stock price and market liquidity.
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