Tecnoglass Inc. and its co-founders, José and Christian Daes, have filed a federal defamation lawsuit in the Southern District of New York. The lawsuit targets short seller Christian Lamarco and his firm, Shadyside Partners, LLC (d/b/a Culper Research).
The complaint alleges that Lamarco and Culper Research deliberately published false claims linking Tecnoglass and its executives to the Sinaloa cartel. The filing asserts that Culper Research profited from short positions by disseminating fabricated allegations sourced from purported 'intelligence' documents that the Mexican government has publicly confirmed as inauthentic.
The lawsuit seeks damages, attorneys' fees, and an injunction requiring the removal and retraction of the defamatory statements. This legal action follows a short seller report that caused immediate damage to Tecnoglass's share price and reputation.
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