VivoPower International PLC (NASDAQ: VVPR, “VivoPower”, the “Company”) has approved an action plan to address alleged illegal market manipulation including dissemination of false information and/or naked short selling of its stock.
This action plan includes creating a Board-led ‘Illegal Market Manipulation Task Force’ to actively pursue all possible actions together with the regulators in their discovery and prosecution of persons engaging in market manipulation involving the ordinary shares of VivoPower over the last 12 months. The Company engaged an external forensic investigation firm and based on its findings, has reason to believe that certain individuals and/or companies appear to have acted in concert as part of a market manipulation scheme seeking to artificially depress the price of the Company’s ordinary shares. It has also engaged specialist UK and US legal counsel.
VivoPower and its Board will remain steadfast in its objective to uphold the highest standards of governance for the benefit of its stakeholders.
