Verb Technology Co. Inc. (VERB), a provider of software for video-based applications, has become the latest company to announce plans to deal with the short sale of its stock, amid suspected sales violations. The Newport Beach, California and Lehi, Utah-based company said it believes “some individuals and/or companies may engage in illegal transactions, including, among other things, prostitution and money laundering that could depress VERB’s stock price.” The organization is developing an action plan and considering the actions of legal experts, and working with other companies that have found illegal trade in their sectors. “Today we are joining the battle started by companies such as Genius Group (GNS), Helbiz (HLBZ) and Creatd (CRTD), among others due to the high level of loyalty in the capital markets,” said CEO Rory J. Cutai in a statement. Verb stock, which closed Friday at 23 cents, was up 33% in trading on Monday.
-Ciara Linnane
(END) Dow Jones Newswires
01-23-23 0748ET
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