Mangoceuticals, Inc. (NASDAQ: MGRX) announced on December 4, 2024, that it has launched an investigation into a potential stock manipulation scheme. This investigation follows a comprehensive review of highly irregular trading patterns and an unprecedented increase in shareholder accounts after its reverse stock split, which was effective on October 16, 2024.
The company's decision to investigate stems from concerns about the integrity of trading activity surrounding its common stock. Such irregularities can undermine investor confidence and market fairness.
This internal investigation is a significant step by Mangoceuticals to address potential illicit activities affecting its shares. The company aims to protect its shareholders and maintain market transparency.
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