Cycurion Inc. (NASDAQ: CYCU) issued litigation hold letters to 16 market makers and securities firms requiring them to preserve trading records as part of an investigation into potential market manipulation, the company announced April 10.

The letters mandate preservation of all evidence related to trading in Cycurion shares from February 16 through March 23, 2026. Required records include buy and sell orders, execution details, counterparty information, communications, customer account details, surveillance reports, margin records, and Suspicious Activity Reports.

The action connects to a case filed in Wake County, North Carolina Superior Court (File No. 26CV012490-910) titled Cycurion, Inc. f/k/a WAVS v. ACCESS Newswire Inc. and John Doe One.

"We will not sit on our hands while others try to harm our company and our shareholders," said Kevin Kelly, CEO of Cycurion. "We are proactively issuing these litigation hold letters to 16 market makers as part of our investigation into potential short selling and market manipulation."

The McLean, Virginia-based cybersecurity company provides IT security solutions and AI-driven services to government, enterprise, and infrastructure clients. Cycurion operates through subsidiaries including Axxum Technologies LLC, Cloudburst Security LLC, and Cycurion Innovation Inc.

The company previously unmasked Michael S. Emo as an individual named in a separate defamation lawsuit filed in Alexandria, Virginia, according to the statement.