Simply put
- The law firm is investigating whether Semler Scientific is complying with securities laws and other business practices.
- Bragar Eagel & Squire has urged shareholders of Semler to reach out to their lawyers regarding potential losses.
- This week, Semler revealed it has invested an additional $50 million in Bitcoin, increasing its total value of Bitcoin holdings to $466 million.
A U.S. law firm is considering potential legal actions against NASDAQ-listed Semler Scientific on behalf of Bitcoin Holding Company shareholders, though this hasn’t stopped Semler from continuing its Bitcoin purchases.
On Thursday, Bragar Eagel & Squire, PC, stated they are looking into whether Semler Scientific has violated federal securities laws or engaged in other illegal practices. The firm urged Semler’s shareholders to consult with their own legal advisors about the matter.
Back in February, the medical technology company disclosed that the U.S. Department of Justice might initiate a legal complaint against it.
$SMLR is holding $50 million in Bitcoin, generating a yield of 25.8% YTD. The company currently owns 4,264 BTC. Exciting times ahead!
– Eric Semler
In 2017, the DOJ began its first civil investigation into Semler regarding refund claims for certain business expenses for Quantaflo devices. The agency followed up with several requests in 2019, 2021, 2022, and 2023.
It’s not very clear yet whether a potential DOJ legal complaint would be broader than the agency’s initial investigation into Semler Scientific’s operations.
Neither Semler Scientific nor Bragar Eagel & Squire responded promptly to inquiries for comment.
Semler Scientific’s shares traded at $44.20 on Friday, reflecting a 1.6% decline over the last day. The company has been focusing on building its position in Bitcoin, recovering some stock value after initial concerns regarding the DOJ investigation.
Recently, Semler made an additional Bitcoin purchase worth $50 million, bringing its total assets to 4,264 tokens that are approximately valued at $466 million at current market prices.
Bitcoin has seen a slight decline of 2.5%, now at $108,915, but it’s important to note it has risen by 16% overall.
