Cycurion (CYCU) disclosed it is taking legal action in response to what it describes as a coordinated stock manipulation campaign. In a letter to shareholders, the company alleges the campaign began on March 16, 2026, following the distribution of a fabricated press release, and involved illegal short selling and "spoofing" activity.
Key Details
- Alleged Manipulation: The company cites evidence from subpoenaed trading records, including a short-selling spike of up to 180 times normal volume and hundreds of "spoofing" orders with a 100% cancellation rate on March 16, 2026.
- Legal Action: Cycurion has filed a lawsuit against the distributor of the false press release (ACCESS Newswire) and is actively pursuing the identified market manipulators. The company estimates damages could exceed $30 million.
- Business Fundamentals: Despite the alleged stock attack, the company reported a 70% reduction in net debt and projects it is positioned to more than double its run-rate revenue, driven by recent acquisitions and contract wins.