ALEX SPIRO FILES DEFAMATION SUIT AGAINST SHORT SELLER ON BEHALF OF TECNOGLASS

Rhea-AI Summary

Tecnoglass (NYSE: TGLS) and its co-founders have filed a federal defamation lawsuit against short seller Christian Lamarco and Shadyside Partners (d/b/a Culper Research) in the Southern District of New York. The lawsuit alleges that Culper Research deliberately published false claims connecting Tecnoglass and its executives to the Sinaloa cartel.

The complaint states that Culper Research profited from short positions by spreading fabricated allegations based on supposedly "intelligence" documents that Mexican authorities have confirmed as inauthentic. The plaintiffs are seeking damages, attorneys' fees, and an injunction requiring removal and retraction of the defamatory statements.

Positive

• None.

Negative

• Stock price and company reputation damaged by short seller allegations
• Legal proceedings could be lengthy and costly
• Negative publicity from allegations may continue to affect market perception

News Market Reaction

+1.38%

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+1.38% News Effect

On the day this news was published, TGLS gained 1.38%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, Sept. 10, 2025 /PRNewswire/ -- Alex Spiro announced that yesterday he has filed a federal defamation lawsuit in the Southern District of New York on behalf of Tecnoglass Inc. (NYSE: TGLS) and its co-founders and executives, José and Christian Daes. The complaint names short seller Christian Lamarco and his firm Shadyside Partners, LLC (d/b/a Culper Research), alleging they deliberately published false claims linking Tecnoglass and its executives to the Sinaloa cartel.

The filing asserts that Culper Research profited from short positions by spreading fabricated allegations sourced from purported "intelligence" documents that the Mexican government has publicly confirmed are inauthentic.

The complaint also notes this is not the first time Lamarco and Culper Research have faced defamation suits of this nature. The report caused immediate damage to Tecnoglass's share price and reputation. The plaintiffs seek damages, attorneys' fees, and an injunction requiring the removal and retraction of the defamatory statements.

The case is Tecnoglass Inc. v Lamarco, 25-cv-7450, U.S. District Court, Southern District of New York.

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SOURCE Quinn Emanuel Urquhart & Sullivan, LLP

FAQ

What legal action has Tecnoglass (TGLS) taken against Culper Research?

Tecnoglass has filed a federal defamation lawsuit in the Southern District of New York against Christian Lamarco and Shadyside Partners (Culper Research) for publishing allegedly false claims connecting the company to the Sinaloa cartel.

What damages is Tecnoglass (TGLS) seeking in its lawsuit against the short seller?

Tecnoglass is seeking monetary damages, attorneys' fees, and an injunction requiring the removal and retraction of the allegedly defamatory statements.

How has the short seller report affected Tecnoglass (TGLS) stock?

The report caused immediate damage to Tecnoglass's share price and corporate reputation according to the lawsuit filing.

What evidence supports Tecnoglass (TGLS) in its defamation lawsuit?

The Mexican government has publicly confirmed that the 'intelligence' documents used by Culper Research to make its allegations against Tecnoglass are inauthentic.

Who is representing Tecnoglass (TGLS) in the defamation lawsuit?

Alex Spiro of Quinn Emanuel Urquhart & Sullivan, LLP, a leading business litigation firm with a 86% trial success rate, is representing Tecnoglass in the lawsuit.