LegalJul 8, 2026, 01:46 PM
Digital Brands Group Retains Firm to Investigate Naked Short Selling
AI Summary
Digital Brands Group, Inc. announced it has retained the law firm Christian Attar to investigate potential naked short selling and other market manipulation of its common stock. The company also engaged Shareholder Intelligence Services, LLC (ShareIntel) in June 2026 to support these efforts by tracking shareholder data. This decision follows an internal review that raised concerns about various securities law violations. DBGI intends to aggressively pursue any responsible parties and provide evidence to authorities including the U.S. Department of Justice and the SEC.
Key Highlights
- Digital Brands Group retained the law firm Christian Attar to investigate potential naked short selling and market manipulation.
- The company engaged Shareholder Intelligence Services, LLC (ShareIntel) in June 2026 to track shareholder data.
- The investigation targets suspected violations including naked shorting, spoofing, market manipulation, and 4.99% beneficial ownership rule breaches.
- ShareIntel will monitor share ownership, purchases, sales, and custody by various entities.
- DBGI intends to aggressively pursue any parties responsible for losses and provide evidence to authorities like the DOJ and SEC.
Price Impact
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