Finger Motion Files Federal Lawsuit Against Short Selling Research Firm

SINGAPORE / ACCESSWIRE / October 20, 2023 / FingerMotion, Inc. (NASDAQ:FNGR) (the “Company” or “FingerMotion“), a mobile services and data company, announces that a federal lawsuit has been filed against Capybara Research (“Capybara”) in the United States District Court for the Southern District of New York. The Complaint filed against Capybara alleges that Capybara maliciously published a defamatory article in a premediated attempt to move the public market for FingerMotion’s stock lower to benefit from their previously announced short position. The complaint alleges securities fraud violations, defamation, and interference with business under federal and state laws.

“We are committed to understanding what has been happening to our stock,” stated Martin Shen, CEO of FingerMotion. “This action was initiated to reel in any potential unlawful interference with our Company’s public market for its stock”.

The Company had announced on October 5, 2023 that it retained Mark R. Basile, Esq, and his securities and RICO litigation firm, The Basile Law Firm P.C., to assist the Company in investigating recent activities surrounding the Company’s stock performance and to take the necessary legal action to prevent potential market participants utilizing unlawful means from further hurting the Company’s shareholders.

About The Basile Law Firm P.C.

Mr. Basile, a former law professor, has battled dilution funding for the last 8 years. In 2021, his firm secured a landmark decision against a dilution funder that has set the standard to save hundreds of public companies’ tens of millions of dollars. Since that decision, his firm has vacated several federal trial court judgments and consequently many of the dilution funders have not filed suits against public companies in the last 18 months.

His firm is also pursuing several RICO actions against known dilution funders for the collection of unlawful debt and because of his actions, the Southern District of New York recently denied a toxic dilution funders’ motion to dismiss RICO claims. The firm has also published articles and advice for companies that believe they may be victims of unlawful dilution, counterfeit shares and market manipulation by brokers, investment relation firms and short-sellers, a summary of which can be found at: https://www.thebasilelawfirm.com/blog