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id: 240, Created by Stan Vick, Scout
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On September 02, 2022, Bloomberg published Article about Aurora Innovation (AUR.US) entitled "Self-Driving Tech Company Floats Possible Sale to Apple or Microsoft".
The article also reported that Chris Urmson, who co-founded Aurora outlined cost cuts and floated measures including taking the company private, spinning off or selling assets, and pursuing a small capital raise in a memo labeled “board discussion pre-read” and dated Aug. 3.
But Urmson inadvertently sent this to staff and asked them on Aug. 9 not to open it, the document showed.
Over the next 2 trading days, Aurora's stock rose by almost 30%, significantly hurting short holders.
The specificity of the document flow, the content of the document, and the price dynamics of shares indicate that there can be suspicions of deliberate price manipulation.
Failure to Disclose,
Shock Event Date
09 August 2022