1847 Re-Engages ShareIntel to Investigate Potentially Improper and Illegal Trading Activity in the Company’s Common Stock

Rhea-AI Summary

1847 Holdings has re-engaged ShareIntel to investigate potentially improper and illegal trading activity in the company's common stock. The company aims to enhance corporate governance, monitor trading activity, and ensure regulatory compliance. Despite positive fundamentals and a recent $27.6 million deal, the CEO suspects market manipulation and illegal trading, including naked short selling.

NEW YORK, NY / ACCESSWIRE / May 6, 2024 / 1847 Holdings LLC("1847" or the "Company") (NYSE American:EFSH), a holding company specializing in identifying over-looked, deep value investment opportunities in middle market businesses, today reports it has re-engaged Shareholder Intelligence Services, LLC ("ShareIntel") to utilize their patented, proprietary service offerings to obtain share trading analytic metrics designed to help coordinate, monitor and enhance corporate governance, shareholder communication, regulatory compliance and surveillance of trading in the Company's shares in an effort to allow Company to better monitor trading activity, including potential violations of SEC Regulation SHO, which governs stock and option share locate, closeout and fail to deliver requirements.

Mr. Ellery W. Roberts, CEO of 1847 Holdings, commented, "Despite the continued improvement in our fundamentals and what we believe to be the significant intrinsic value of our portfolio companies, illustrated by our recent Letter of Intent to sell 1847 Cabinets Inc. for $27.6 million, we continue to witness significant pressure on the share price and highly unusual trading activity. Based on the prior analysis of the Company's historical stock trading activity conducted by ShareIntel, I personally believe that we have been the target of market manipulation and potentially illegal trading activities, including naked short selling of our stock. As such, we are renewing and increasing our activities to identify those potentially responsible and will take any and all measures necessary to ensure adherence to regulatory standards and protect our stockholders."

About Shareholder Intelligence Services, LLC

ShareIntel is a compliance driven SAAS retained by public companies to obtain, aggregate, track and analyze shareholder trading and settlement data. This patented process is managed through its "Data Repository Information Link" system DRIL-Down™. The ShareIntel solution empowers public company CEO's, CFO's, IRO's, Corporate Secretaries & General Council with tools and analysis to help better manage investment banking, investor relations, shareholder outreach efforts and more. ShareIntel provides actionable intelligence, which enables public company officers and directors to fulfill fiduciary best practices. For more information, please visit www.shareintel.com.

About 1847 Holdings LLC

1847 Holdings LLC (NYSE American: EFSH), a publicly traded diversified acquisition holding company, was founded by Ellery W. Roberts, a former partner of Parallel Investment Partners, Saunders Karp & Megrue, and Principal of Lazard Freres Strategic Realty Investors. 1847 Holdings' investment thesis is that capital market inefficiencies have left the founders and/or stakeholders of many small business enterprises or lower-middle market businesses with limited exit options despite the intrinsic value of their business. Given this dynamic, 1847 Holdings can consistently acquire businesses it views as "solid" for reasonable multiples of cash flow and then deploy resources to strengthen the infrastructure and systems of those businesses in order to improve operations. These improvements may lead to a sale or IPO of an operating subsidiary at higher valuations than the purchase price and/or alternatively, an operating subsidiary may be held in perpetuity and contribute to 1847 Holdings' ability to pay regular and special dividends to shareholders. For more information, visit www.1847holdings.com.

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Forward-Looking Statements

This press release may contain information about 1847 Holdings' view of its future expectations, plans and prospects that constitute forward-looking statements. All forward-looking statements are based on our management's beliefs, assumptions and expectations of our future economic performance, taking into account the information currently available to it. These statements are not statements of historical fact. Forward-looking statements are subject to a number of factors, risks and uncertainties, some of which are not currently known to us, that may cause our actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial position. Our actual results may differ materially from the results discussed in forward-looking statements. Factors that might cause such a difference include but are not limited to the risks set forth in "Risk Factors" included in our SEC filings.

Contact:

Crescendo Communications, LLC
Tel: +1 (212) 671-1020
Email: EFSH@crescendo-ir.com

SOURCE: 1847 Holdings LLC

View the original press release on accesswire.com

FAQ

What is the purpose of 1847 engaging ShareIntel?

1847 Holdings has re-engaged ShareIntel to investigate potentially improper and illegal trading activity in the company's common stock to enhance corporate governance and monitor trading activity.

What is the significance of the recent Letter of Intent mentioned in the PR?

The recent Letter of Intent mentioned in the PR involves the sale of 1847 Cabinets Inc. for $27.6 million, highlighting the significant intrinsic value of the company's portfolio companies.

What does CEO Ellery W. Roberts suspect regarding trading activities?

CEO Ellery W. Roberts suspects market manipulation and potentially illegal trading activities, including naked short selling, targeting the company's stock.

What measures will 1847 Holdings take to address the suspected illegal trading activities?

1847 Holdings will renew and increase activities to identify those responsible for potentially illegal trading activities and will take all necessary measures to ensure adherence to regulatory standards and protect stockholders.