LegalApr 10, 2026, 08:31 AM
Cycurion Issues Litigation Hold Letters to 16 Market Makers Amid Stock Manipulation Probe
AI Summary
Cycurion, Inc. has taken a significant step in its investigation into potential stock price manipulation by issuing litigation hold letters to 16 prominent market makers and securities firms. This action formally requires the preservation of all trading evidence related to Cycurion's stock between February 16, 2026, and March 23, 2026, as part of a case filed in the Superior Court of Justice, Wake County, North Carolina. CEO Kevin Kelly reiterated the company's commitment to vigorously pursue those harming shareholders through nefarious actions, while also emphasizing Cycurion's focus on profitable growth, expanding contract backlog, and advancing its ARx platform and AI-enhanced cybersecurity offerings.
Key Highlights
- Cycurion issued litigation hold letters to 16 prominent market makers and securities firms.
- The letters are part of an ongoing investigation into potential market manipulation and short selling, connected to a lawsuit in the Superior Court of Justice, Wake County, North Carolina (File No. 26CV012490-910).
- Recipients are required to preserve all evidence of trading activity in CYCU shares from February 16, 2026, through March 23, 2026.
- Required evidence includes buy/sell orders, execution details, counterparty information, communications, customer account details (KYC), surveillance reports, and Suspicious Activity Reports (SARs).
- CEO Kevin Kelly stated the company will "go after those who have hurt the Company and its shareholders by their nefarious actions."
- This action follows the company's recent success in unmasking Michael S. Emo as John Doe 1 and John Doe 2 in a separate defamation lawsuit in Alexandria, Virginia.