Verb Technology Regains Nasdaq Compliance; Investigates Potential Price Manipulation

MT Newswires Live10-28

Verb Technology (VERB) said Monday it regained compliance with Nasdaq's minimum bid price requirement for continued listing.

The company said it received the compliance notice from Nasdaq on Oct. 23.

Verb Technology also said it has initiated an investigation into suspected stock manipulation following its 1-for-200 reverse stock split on Oct. 9.

The company found that certain brokerage firms requested over 260,000 roundup shares, despite the company having nearly 40,000 beneficial owners before the split and a post-split public float below 800,000 shares.

The company said it has also observed a notable rise in short positions and is collaborating with other affected companies to pursue legal action.

Shares of Verb Technology were up more than 3% in recent trading.

Price: 11.18, Change: +0.34, Percent Change: +3.14

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