Safety Shot, Inc. (NASDAQ: SHOT) is currently making notable strides in the US financial landscape. As of the last check in current trading session, the value of Safety Shot stock has surged by an impressive 27.93%, reaching $2.29. This upward trajectory can be attributed to significant legal developments favoring the company.
On December 5, 2023, Safety Shot (SHOT) initiated legal proceedings by filing a federal lawsuit in the United States District Court for the Southern District of New York. The lawsuit was directed against Capybara Research, an entity purportedly established to impart “credibility” to malicious and defamatory articles.
These articles, intentionally designed to detrimentally affect the stock prices of publicly traded companies, were allegedly orchestrated by Capybara Research. The lawsuit also targeted the previously anonymous owner and operator responsible for a particularly damaging article published on November 22, 2023. This article resulted in a staggering 37.03% decline in Safety Shot’s share price.
Following the commencement of legal action, SHOT’s legal representatives at The Basile Law Firm, P.C. unveiled the true identity of the individual behind the defamatory article—Brazilian resident Igor Appelboom. Appelboom, who previously operated under his own name on X (formerly known as Twitter), engaged in content related to the short selling of securities.
Capybara Research and Appelboom allegedly engage in short selling and release misleading reports to deliberately drive down stock prices for personal gain. Safety Shot perceives this conduct as potentially criminal and remains steadfast in safeguarding the interests of its shareholders. In response to the evasive actions taken by Capybara and Appelboom to avoid service, SHOT filed a motion on December 22, 2023, seeking alternative methods such as email service.
Subsequently, on January 10, 2024, a historic ruling by The Honorable Judge granted permission for the company to serve notice of the legal action through a press release—an unprecedented and groundbreaking approach. This innovative legal maneuver signifies Safety Shot’s commitment to pursuing justice despite attempts to obstruct due process.
