Cosmos Health Retains Christian Levine Law Group to Further Monitor Trading Irregularities

Rhea-AI Summary

Cosmos Health, Inc. (Nasdaq:COSM) has engaged top legal firms, Christian Levine Law Group and Warshaw Burstein, LLP, to address potential instances of naked short selling and stock manipulation. Following an analysis of trading data from Shareholder Intelligence Services, management believes there is justification to pursue this issue to protect shareholder interests. CEO Greg Siokas emphasized the company's commitment to shareholder welfare and its ongoing strategic initiatives aimed at revenue growth. This includes a share buyback program to maximize shareholder value.

Positive

• Engaged leading law firms to address potential market manipulation.
• Management is actively reviewing trading patterns to protect shareholder interests.
• Commitment to shareholder welfare emphasized by CEO.
• Ongoing strategic initiatives expected to drive revenue growth.

Negative

• None.

CHICAGO, IL / ACCESSWIRE / January 26, 2023 / Cosmos Health, Inc. ("the Company") (Nasdaq:COSM), a global healthcare group with proprietary lines of nutraceuticals and distributor of pharmaceuticals, branded generics, OTC medications and medical devices, announces that in response to the data obtained through Shareholder Intelligence Services, it has retained services of Wes Christian of Christian Levine Law Group and Alan Pollack of Warshaw Burstein, LLP (the "Firms"), to help the company develop its next course of action. The Firms are premiere law firms with a strong focus in the field of naked short selling and stock manipulation.

As previously announced, Cosmos management, in conjunction with its advisors, has been reviewing trading data recently received from Shareholder Intelligence Services, LLC, and will continue to do so moving forward. Based on preliminary findings, management has concluded that there is merit to pursue this matter further and will benefit from the Firms' expertise to help develop a strategy and explore all available options to protect the interests of our shareholders. Cosmos is committed to ensuring that all shareholders are treated fairly and that any instances of market manipulation are fully investigated and addressed.

Greg Siokas, Chief Executive Officer of Cosmos Health stated: "The Company places great value on its shareholders and is committed to fulfilling its fiduciary duty to ensure their protection to the fullest extent possible. Considering the review of COSM trading patterns, as well as recent developments concerning other companies facing similar issues of alleged market manipulation, the Company is closely monitoring the situation and will take all necessary actions to safeguard the interest of its shareholders. As such, the Company is pleased to announce the retention of the Firms, a leading expert in naked short selling and stock manipulation, to assist in the development of a strategy to address these issues. As previously communicated, we are excited about Cosmos' long-term prospects and our recently strengthened balance sheet allows us the ability to execute on our multi layered growth strategy which is now underway. We continue to enter into strategic agreements with partners which we expect to lead to revenue growth for many years to come. At the same time, we are taking advantage of our current market valuation as per the previously announced share buyback program with the aim of maximizing shareholder value."

About Christian Levine Law Group

The Christian Levine Law Group engages in all types of civil litigation, including shareholder and partnership disputes, and stock fraud. The Group operates domestically and internationally, with its corporate headquarters based in Houston, TX https://christianlevinelaw.com

About Warshaw Burstein, LLP

Warshaw Burstein is a mid-sized, full-service firm that has been in existence for over 95 years in New York City. Its litigation department has extensive experience in complex commercial litigation, including securities market manipulation cases.

About Cosmos Health, Inc

Cosmos Health Inc. (Nasdaq: COSM) is a global healthcare group that was incorporated in 2009 and is headquartered in Chicago, Illinois. Cosmos Health is engaged in the nutraceuticals sector through its own proprietary lines of products "Sky Premium Life" and "Mediterranation." Additionally, the Company is operating in the pharmaceutical sector through the provision of a broad line of branded generics and OTC medications and is involved in the healthcare distribution sector through its subsidiaries in Greece and UK serving retail pharmacies and wholesale distributors. Cosmos Health is strategically focused on the R&D of novel patented nutraceuticals (IP) and specialized root extracts as well as on the R&D of proprietary complex generics and innovative OTC products. Cosmos has developed a global distribution platform and is currently expanding throughout Europe, Asia and North America. Cosmos Health has offices and distribution centers in Thessaloniki and Athens, Greece and Harlow, UK. More information is available at www.cosmoshealthinc.com and www.skypremiumlife.com.

Forward-Looking Statements

With the exception of the historical information contained in this news release, the matters described herein, may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements preceded by, followed by, or that otherwise, include the words "believes," "expects," "anticipates," "intends," "projects," "estimates," "plans" and similar expressions or future or conditional verbs such as "will," "should," "would," "may" and "could", are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. These statements, involve unknown risks and uncertainties that may individually or materially impact the matters discussed, herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company's ability to raise sufficient financing to implement its business plan, the impact of the COVID-19 pandemic and the war in Ukraine, on the Company's business, operations and the economy in general, and the Company's ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward- looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's filings with the SEC, which are available at the SEC's website (www.sec.gov). The Company disclaims any intention or obligation to update, or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations Contact:
Lytham Partners, LLC
Ben Shamsian
E: shamsian@lythampartners.com
P: 646-829-9701

SOURCE: Cosmos Health Inc.

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https://www.accesswire.com/736989/Cosmos-Health-Retains-Christian-Levine-Law-Group-to-Further-Monitor-Trading-Irregularities

FAQ

What is the recent action taken by Cosmos Health regarding stock manipulation?

Cosmos Health has retained Christian Levine Law Group and Warshaw Burstein, LLP to address potential instances of naked short selling and stock manipulation.

What prompted Cosmos Health to seek legal assistance?

The decision was made after reviewing trading data from Shareholder Intelligence Services, which indicated potential irregularities.

How does Cosmos Health plan to protect shareholder interests?

The company is committed to investigating market manipulation and is developing a strategy with legal firms to safeguard its shareholders.

What is the stock symbol for Cosmos Health?

The stock symbol for Cosmos Health is COSM.

What are Cosmos Health's growth strategies moving forward?

Cosmos Health is focused on revenue growth through strategic partnerships and a share buyback program.