MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Knightscope, Inc. [Nasdaq: KSCP] (“Knightscope” or the “Company”), a leading developer of autonomous security robots and blue light emergency communication systems, today announces that it has retained attorney Mark R. Basile and his short and distort securities litigation firm, The Basile Law Firm P.C., to investigate recent activities surrounding the Company’s stock performance and to take whatever legal action necessary to prevent potential market participants from utilizing unlawful means to further hurt retail investors, including the recently published research papers by Capybara Research.
Mr. Basile, a former law professor, has battled dilution funding and market manipulation for the last 8 years. In 2021, his firm secured a landmark decision against a toxic dilution funder (Adar Bays) that has set the standard to save hundreds of public companies tens of millions of dollars. Since that decision, his firm has vacated several federal trial court judgments and consequently many of the dilution funders have not filed suits against public companies in the last 18 months.
His firm is also pursuing several RICO actions at present against known dilution funders for the collection of unlawful debt and because of his actions, the Southern District of New York recently denied a toxic lender’s motion to dismiss RICO claims. The firm has also published articles and advice for companies that believe they may be victims of dilution, counterfeit shares and market manipulation by brokers, investment relation firms and short-sellers, a summary of which can be found at: https://www.thebasilelawfirm.com/blog
“What we are working on at Knightscope is in the national security interests of the United States of America for all Americans and communities nationwide. We are pleased to welcome Mr. Basile to our legal team. Our stock has been suffering for months, since the release of the Capybara Reports that contain misinformation designed to discredit our accomplishments and to paint a negative picture of the Company by a foreign research firm that has previously taken a short position in Knightscope. Mr. Basile understands how short and distort campaigns negatively affect retail shareholders and will be leading this and other litigation we may plan to protect the Company and its shareholders,” said William Santana Li, Chairman and CEO, Knightscope, Inc.
About Knightscope
Knightscope is an advanced public safety technology company that builds fully autonomous security robots and blue light emergency communications systems that help protect the places people live, work, study and visit. Knightscope’s long-term ambition is to make the United States of America the safest country in the world. Learn more about us at www.knightscope.com. Follow Knightscope on Facebook, X (formerly Twitter), LinkedIn and Instagram.
Forward-Looking Statements
This press release may contain “forward-looking statements” about Knightscope’s future expectations, plans, outlook, projections and prospects. Such forward-looking statements can be identified by the use of words such as “should,” “may,” “intends,” “anticipates,” “believes,” “estimates,” “projects,” “forecasts,” “expects,” “plans,” “proposes” and similar expressions. Forward-looking statements contained in this press release and other communications include, but are not limited to, statements about the Company’s profitability and growth. Although Knightscope believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. These risks and uncertainties include, among other things, the risk that the restructuring costs and charges may be greater than anticipated; the risk that the Company’s restructuring efforts may adversely affect the Company’s internal programs and the Company’s ability to recruit and retain skilled and motivated personnel, and may be distracting to employees and management; the risk that the Company’s restructuring efforts may negatively impact the Company’s business operations and reputation with or ability to serve customers; the risk that the Company’s restructuring efforts may not generate their intended benefits to the extent or as quickly as anticipated. Readers are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading “Risk Factors” in Knightscope’s Annual Report on Form 10-K for the year ended December 31, 2022. Forward-looking statements speak only as of the date of the document in which they are contained, and Knightscope does not undertake any duty to update any forward-looking statements, except as may be required by law.
