AUVI - Applied UV hires Herrick Feinstein to investigate illegal short selling surges 46%

January, 27 2023 09:30 AM Applied UV Inc.

Applied UV ( NASDAQ: AUVI ) said it hired law firm Herrick Feinstein to investigate potential illegal short selling of its stock.
As of Jan. 13 , the company had short interest of 254k or ~4% shares and had been trading close to its 52-week close price.
The company said it had reason to believe that market participants may have engaged in illegal short selling practices.
"Accordingly, on behalf of the Company, we have engaged outside counsel to aggressively investigate these activities and take whatever steps that are appropriate to protect the Company and its shareholders," said Max Munn, CEO of Applied UV.
In a separate news , AUVI said it had completed its merger with Puro Lighting and LED Supply. The merger is expected to generate combined annualized sales of about $45M - $50M in 2023.
The combined companies will have air disinfection and purification technologies that can address major commercial market, including hospitals, schools, government and military buildings, prison systems, hotels, commercial buildings and food transportation and storage to extend the shelf life of agricultural products, including cannabis.
( AUVI ) is trading 46% higher premarket.

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