Key facts
- Abaxx has requested Canadian market regulators to investigate alleged share manipulation.
- Abaxx is responding to a short-selling campaign.
- Viceroy initiated the short-selling campaign against Abaxx.
- Abaxx has hired the law firm Paul Weiss.
- Paul Weiss will aid Abaxx in its response to the short-selling campaign.
Abaxx has initiated a formal request to Canadian market regulators, asking them to investigate alleged manipulative trading activities concerning its shares. This action comes in response to a short-selling campaign that has been targeting the company. To bolster its defense and response efforts, Abaxx has also engaged the services of the law firm Paul Weiss. The company's move to involve regulators underscores its serious concerns about the tactics being used in the campaign against its stock, suggesting a belief that the trading activity may extend beyond legitimate short-selling into manipulative practices. The engagement of Paul Weiss indicates a strategic approach to managing the legal and public relations challenges presented by the short-selling campaign.