InvestorWire NewsRoom

InvestorNewsBreak

InvestorNewsBreaks – FingerMotion Inc. (NASDAQ: FNGR) Announces Retention of Third Company in Investigation of Potential Naked Short Selling
December 20, 2022

InvestorNewsBreaks – FingerMotion Inc. (NASDAQ: FNGR) Announces Retention of Third Company in Investigation of Potential Naked Short Selling

FingerMotion (NASDAQ: FNGR), a mobile data and services company, has entered into a service agreement with ShareIntel-Shareholder Intelligence Services. The agreement outlines ShareIntel’s assistance in reviewing the trading history of FingerMotion’s common stock for the past two years as well as tracking trading of the stock moving forward; ShareIntel will assist the Christian Levine Law Group and Warshaw Burstein LLP, which have each already been retained by FingerMotion. According to the announcement, ShareIntel uses DRIL-Down(TM), a patented process that aggregates and analyzes repository data from reporting entities, broker-dealers and shareholders; the process will support FingerMotion in its efforts to proactively track shareholder ownership; identify parties to suspicious, aberrant or unusual trading activity; and deploy corrective action steps to help curtail such activity. FingerMotion may have been the target of a market manipulation scheme involving illegal naked short selling of its common stock over the last two years; the company has contracted with these three companies as it investigates and works to expose any wrongdoing. “It is obvious when our stock trades in multiples of the outstanding shares in a single day that the markets’ checks and balances failed,” said FingerMotion CEO Martin Shen in the press release. “Since we know that the trading in our stock was irregular, it is our duty to our shareholders to understand the magnitude of the issue, and we will leverage ShareIntel’s patented processes and proprietary analytics to find reporting anomalies among market makers, banks, broker-dealers and clearing firms. ShareIntel also has the ability to track share ownership and identify any suspicious, aberrant and or unusual trading activity, which supports our continuing commitment to protect our investors and maximize shareholder value. Based on the pedigree of our investigating firms, we believe they will be able to help prove whether or not our company is and or has been the subject and victim of illegal naked short selling.”

To view the full press release, visit https://ibn.fm/FS51Y

About FingerMotion Inc.

FingerMotion is an evolving technology company with a core competency in mobile payment and recharge platform solutions in China. It is one of only a few companies in China with access to wholesale rechargeable minutes from China’s largest mobile phone providers to service their consumers. As the user base of its primary business continues to grow, the company is developing additional value-added technologies to market to its users. The vision of the company is to rapidly grow the user base through organic means and have this growth develop into an ecosystem of users with high engagement rates utilizing its innovative applications. Developing a highly engaged ecosystem of users would strategically position the company to onboard larger customer bases. FingerMotion eventually hopes to serve more than 1 billion users in the China market and eventually expand the model to other regional markets. For more information about the company, please visit www.FingerMotion.com.

NOTE TO INVESTORS: The latest news and updates relating to FNGR are available in the company’s newsroom at https://ibn.fm/FNGR

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent.

As part of its service, InvestorWire provides coverage of noteworthy announcements. To further expand visibility of achievements being made throughout a multitude of sectors, InvestorWire’s syndication partners have extended the digital coverage to include individual broadcasts on financial websites and platforms visited by millions of investors daily.

For more information, please visit https://www.investorwire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.investorwire.com
[email protected]

InvestorWire is part of the InvestorBrandNetwork

Recent NewsBreaks

NewsBreaks Categories

Get Started with InvestorWire

To distribute a release in the next 24 hours. Contact our client services team.

(310) 299-1717

Distribute a press release. Submit your release to get started.

Submit Press Release

Set up a Live demonstration. Schedule a date and time that works for you.

Schedule a LIVE Demo

Press Distribution

Explore Press Distribution Solutions

All releases include an unlimited word count* with full wire-grade syndication, our press release enhancement service, and a follow-up InvestorNewsBreak article distributed to thousands of editorial syndication partners.

Discover Add-on Solutions

Increase the impact of your achievements by adding these exclusive solutions from InvestorWire, delivered in conjunction with the InvestorBrandNetwork (IBN).