Latest news with #GrizzlyResearch
CNBC
2 days ago
- Automotive
- CNBC
Pony AI CEO on US operations, Hong Kong IPO plans
James Peng, CEO of autonomous driving company Pony AI, talks about Uber founder Travis Kalanick's reported interest in acquiring the company's US operations. He also talks about the company being shorted by Grizzly Research, who accused Pony AI of being linked to the Chinese military.
Yahoo
6 days ago
- Business
- Yahoo
Pony AI shorted at Grizzly Research; concerns raised over operations
-- Pony Ai Inc (NASDAQ:PONY) stock fell 1%, then rose by over 1%, after Grizzly Research published a critical report questioning the robotaxi company's operations and technology capabilities. The research firm alleged that Pony AI, which went public in November 2024, has "very little to offer" and described it as a "smoke and mirrors show." Among the most serious accusations, Grizzly claimed there are allegations from an apparent insider that the company falsified data for its self-driving software algorithm, with management allegedly aware of and covering up the issue. Grizzly Research conducted on-the-ground testing of Pony's robotaxi service in China, reporting that the company appeared to have "the least pick-up spots, longest waiting time, and overall worse customer experience" compared to competitors like Baidu (NASDAQ:BIDU) Apollo and WeRide. The report also highlighted regulatory challenges, noting that Pony's permit to conduct driverless autonomous vehicle testing in California was previously revoked following a crash. A similar incident reportedly occurred in China in May 2025, resulting in temporary service suspension in that district. Additionally, Grizzly raised concerns about Pony AI's financial situation, claiming its financials have worsened since its IPO and that a significant portion of its revenue comes from an entity "directly related to the Chinese military." The research firm also noted that U.S. Senators have called for Pony's delisting from U.S. exchanges due to its alleged close ties with the Chinese government. The report comes as Pony AI has recently attracted investor attention due to rumors about former Uber Technologies Inc (NYSE:UBER) CEO Travis Kalanick's potential interest in the company's U.S. business. Related articles Pony AI shorted at Grizzly Research; concerns raised over operations KeyBanc upgrades Roku on turnaround in ad strategy and cost control Goldman strategists favor these 3 U.S. sectors Sign in to access your portfolio
Reuters
08-07-2025
- Business
- Reuters
Brazil's XP sues short seller Grizzly Research in New York, alleges defamation
NEW YORK, July 7 (Reuters) - The Brazilian fintech company XP (XP.O), opens new tab filed a U.S. lawsuit on Monday accusing the short seller Grizzly Research of defamation over a March 12 report, opens new tab accusing XP of running a "Madoff-like Ponzi scheme." In a complaint filed in federal court in Manhattan, XP said it suffered more than $100 million in harm to its business and reputation from the report, with many longtime clients, investors and business partners withdrawing their funds. It accused Grizzly and its owner Siegfried Eggert of "brazenly, maliciously, and recklessly" publishing the report, with a goal of driving down XP's stock price so they could profit on short positions. Grizzly could not be immediately reached by phone or email after business hours, and its website was not accepting messages seeking comment on the lawsuit. Lawyers for XP did not immediately respond to requests for alternative contact information. XP's press office in Brazil declined to comment. Short sellers sell borrowed shares that they hope to repurchase later at lower prices, to replenish lenders, and pocket the difference in price. Other short sellers have been sued in the United States over their alleged defamatory reports. In its report, Grizzly said XP's alleged Ponzi scheme involved derivatives sales to retail clients, which were then funneled through special funds and misrepresented as proprietary trading profit. Grizzly said the alleged scheme was "likely to involve nefarious activities," and XP would be unprofitable without it. XP called Grizzly's claims of impropriety "demonstrably false" because its Gladius and Coliseu funds were proprietary and had no outside investors, and the challenged transactions complied with applicable Brazilian law. Shares of XP fell 5.5% to $14.14 on March 12 in New York. They closed down 32 cents at $19.48 on Monday. The lawsuit seeks unspecified compensatory and punitive damages. Madoff refers to the late swindler Bernard Madoff. The case is XP inc et al v Grizzly Research LLC et al, U.S. District Court, Southern District of New York, No. 25-05564.
Yahoo
08-07-2025
- Business
- Yahoo
Brazil's XP sues short seller Grizzly Research in New York, alleges defamation
By Jonathan Stempel NEW YORK (Reuters) -The Brazilian fintech company XP filed a U.S. lawsuit on Monday accusing the short seller Grizzly Research of defamation over a March 12 report accusing XP of running a "Madoff-like Ponzi scheme." In a complaint filed in federal court in Manhattan, XP said it suffered more than $100 million in harm to its business and reputation from the report, with many longtime clients, investors and business partners withdrawing their funds. It accused Grizzly and its owner Siegfried Eggert of "brazenly, maliciously, and recklessly" publishing the report, with a goal of driving down XP's stock price so they could profit on short positions. Grizzly could not be immediately reached by phone or email after business hours, and its website was not accepting messages seeking comment on the lawsuit. Lawyers for XP did not immediately respond to requests for alternative contact information. XP's press office in Brazil declined to comment. Short sellers sell borrowed shares that they hope to repurchase later at lower prices, to replenish lenders, and pocket the difference in price. Other short sellers have been sued in the United States over their alleged defamatory reports. In its report, Grizzly said XP's alleged Ponzi scheme involved derivatives sales to retail clients, which were then funneled through special funds and misrepresented as proprietary trading profit. Grizzly said the alleged scheme was "likely to involve nefarious activities," and XP would be unprofitable without it. XP called Grizzly's claims of impropriety "demonstrably false" because its Gladius and Coliseu funds were proprietary and had no outside investors, and the challenged transactions complied with applicable Brazilian law. Shares of XP fell 5.5% to $14.14 on March 12 in New York. They closed down 32 cents at $19.48 on Monday. The lawsuit seeks unspecified compensatory and punitive damages. Madoff refers to the late swindler Bernard Madoff. The case is XP inc et al v Grizzly Research LLC et al, U.S. District Court, Southern District of New York, No. 25-05564.
Associated Press
04-07-2025
- Business
- Associated Press
ROSEN, SKILLED INVESTOR COUNSEL, Encourages GeneDx Holdings Corp. Investors to Inquire About Securities Class Action Investigation
New York, New York--(Newsfile Corp. - July 3, 2025) - WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of GeneDx Holdings Corp. (NASDAQ: WGS) resulting from allegations that GeneDx may have issued materially misleading business information to the investing public. SO WHAT: If you purchased GeneDx securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. WHAT TO DO NEXT: To join the prospective class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. WHAT IS THIS ABOUT: On February 5, 2025, Grizzly Research published a report entitled 'Insiders Attest that GeneDx (Nasdaq: WGS) Is Actively Committing Widespread Fraud.' Grizzly stated that GeneDx's 'growth is largely an illusion, driven by fraudulent schemes and illegal tactics deliberately aimed at exploiting Medicaid and Medicare systems to artificially inflate revenue.' On this news, GeneDx's stock fell $4.84 per share, or 6.7%, to close at $67.18 per share on February 5, 2025. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: on Twitter: or on Facebook: Attorney Advertising. Prior results do not guarantee a similar outcome. ------------------------------- Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] To view the source version of this press release, please visit
