Tecnoglass files defamation suit against short seller Culper Research

Tecnoglass Inc. (NYSE: TGLS) filed a federal defamation lawsuit against short seller Christian Lamarco and his firm Shadyside Partners, LLC, which operates as Culper Research, according to a press release from Quinn Emanuel Urquhart & Sullivan, LLP.

The lawsuit, filed in the U.S. District Court for the Southern District of New York, alleges that the defendants published false claims linking Tecnoglass and its co-founders José and Christian Daes to the Sinaloa cartel. Attorney Alex Spiro represents the company and its executives in the case.

According to the complaint, Culper Research profited from short positions by spreading allegations sourced from purported intelligence documents that the Mexican government has publicly confirmed are inauthentic. The lawsuit seeks damages, attorneys' fees, and an injunction requiring removal and retraction of the statements.

The press release states that the report caused immediate damage to Tecnoglass's share price and reputation. The filing notes this is not the first time Lamarco and Culper Research have faced defamation suits of this nature.

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

Tecnoglass is a glass manufacturing company that trades on the New York Stock Exchange under the ticker TGLS.

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