UBS Defeats Spoofing Suit by Trump 2020 Campaign App Maker [BNN Bloomberg (Canada)]
Phunware, Inc. (PHUN)
Company Research
Source: BNN Bloomberg
Phunware Inc.'s suit was thrown out Thursday by US District Judge Dale E. Ho in Manhattan. He said the Austin-based company had adequately alleged that UBS intentionally manipulated its stock, but that it hadn't met its burden for claiming it lost money due to the bank's conduct. The company didn't immediately respond to a request for comment. In its lawsuit, Phunware said UBS placed “baiting orders” in October 2021 that were never intended to be executed and had “no legitimate economic purpose” other than to create a “false illusion of market interest.” UBS quickly canceled those sell orders and executed buy orders once prices fell, the software company said. Though Phunware claimed that it lost money on share sales due to the alleged spoofing, Ho said that the company's lawsuit didn't adequately chart its losses. He said it could refile its suit to address the inadequacy. Phunware, which went public in 2018, is best known for building an app for Trump's 2020 campaign used t
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PHUN
News
- Phunware Sets First Quarter 2024 Earnings Call for Thursday, May 9, 2024 at 4:30 p.m. ETGlobeNewswire
- Phunware Signs Multi-Year Renewals of Mobile Solutions with Major Hospitality and Healthcare Customers [Yahoo! Finance]Yahoo! Finance
- Phunware Signs Multi-Year Renewals of Mobile Solutions with Major Hospitality and Healthcare CustomersGlobeNewswire
- Phunware, Inc. (NASDAQ: PHUN) had its price target lowered by analysts at Ascendiant Capital Markets from $75.00 to $25.00. They now have a "buy" rating on the stock.MarketBeat
- Wall Street Analysts See a 71.71% Upside in Phunware (PHUN): Can the Stock Really Move This High? [Yahoo! Finance]Yahoo! Finance
PHUN
Earnings
- 11/9/23 - Miss
PHUN
Analyst Actions
- 4/1/24 - Ascendiant Capital
PHUN
Sec Filings
- 3/21/24 - Form 4
- 3/21/24 - Form 3
- 3/15/24 - Form 4
- PHUN's page on the SEC website