MINNETONKA, Minn., June 10, 2024 (GLOBE NEWSWIRE) -- Pineapple Energy Inc. (“Pineapple”), a leading provider of sustainable solar energy and backup power to households and small businesses, is announcing that is investigating potential purposeful short selling of its stock, and has retained well-known analytics firm, Shareholder Intelligence Services, LLC ("ShareIntel").

ShareIntel's investigation will provide relevant shareholder data, including that related to share ownership, purchases, sales and custody by individuals, institutions, broker-dealers, clearing agents and custodians.

In addition, other information related to the Company's public shareholders and market activity with respect to sales of Pineapple’s publicly traded common stock will also be provided, helping Pineapple’s executive leadership ensure that the company’s trading activity achieves the necessary benchmarks for SEC and FINRA market compliance.

According to ShareIntel, they leverage patented processes and proprietary analytics to support identification of reporting anomalies among market makers, banks, broker-dealers and clearing firms. The ShareIntel DRIL-Down™ platform identifies markers of potential illegal naked short selling. Armed with actionable intelligence, ShareIntel assists public companies in their effort to help enable true price discovery.

“Every shareholder should receive the maximum benefit of their ownership stake in Pineapple Energy,” interim CEO Scott Maskin said. “With ShareIntel, we will have the necessary tools to analyze trading patterns and trends and mitigate illegal trading activity related to PEGY shares.”

About Pineapple Energy

Pineapple is focused on growing leading local and regional solar, storage, and energy services companies nationwide. Our vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage. Our portfolio of brands (SUNation Energy, Hawaii Energy Connection, E-Gear, Sungevity, and Horizon Solar Power) provide those within the Residential and Commercial sectors an end-to-end product offering spanning solar, battery storage, and grid services.

About ShareIntel - Shareholder Intelligence Services, LLC

ShareIntel is a patented compliance driven SAAS retained by public companies to track shareholder ownership and monitor broker-dealer and shareholder movement. DRIL-Down™ identifies participants to potential abusive and illegal short selling providing actionable intelligence. For more information, visit www.shareintel.com