Key facts
- Abaxx has requested Canadian market regulators to investigate alleged share manipulation.
- The investigation will focus on potential manipulative trading in Abaxx's shares.
- Abaxx is responding to a short-selling campaign initiated by Viceroy.
- 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, urging them to investigate suspected manipulative trading activities concerning its shares. This action comes in response to a short-selling campaign that has been actively pursued by Viceroy. To bolster its defense and navigate the ongoing situation, Abaxx has also engaged the services of the law firm Paul Weiss. The firm will reportedly assist Abaxx in its response to the short-selling efforts. The specific details of the alleged manipulation and the scope of the regulatory probe remain to be fully disclosed, but the company's move signals a serious concern over the impact of Viceroy's campaign on its stock.