The Glaucus report appears to contain a lot of speculation, assumptions, theories and opinions to push a particular agenda. It wouldn't be too difficult to find a somewhat inflated stock then publish a report highlighting all the red flags and areas of potential risk. Knowing how the market reacts to negative news these companies shorting stock can make a fortune through simple scare mongering.
I highly doubt they made all this up though and could well be plenty of truth behind it. My guess is BLA are probably guilty of many things the reports suggest but maybe not as bad as what Glaucus make out. The truth probably lies somewhere in the middle.
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