Amazing AI鈥檚 shares have been suspended on the Aquis Exchange as the FinTech ramps up its legal fight with investor commentator Tom Winnifrith and Share Prophets Ltd.
In a statement this morning, the AQSE-listed group said it has appointed Rosenblatt Law Limited as its new company legal adviser to pursue defamation proceedings against Winnifrith and Share Prophets, following its cease-and-desist letter earlier this week.聽
CEO Paul Mathieson has also instructed Rosenblatt in a personal capacity to coordinate a separate legal action for damages against the same parties and associates.聽
However, the update also revealed a fresh market issue, as Guild Financial Advisory Limited has resigned as the company鈥檚 AQSE corporate adviser 鈥渨ithout providing any notice period鈥�.聽
Under AQSE rules, issuers must retain a corporate adviser at all times, triggering the halt.聽
Winnifrith, a veteran commentator and the founder/editor behind the ShareProphets website, claimed that this is because of 鈥渢he disgraceful behaviour of its CEO鈥�.
Tom Winnifrith v Amazing AI plc: Bizarre dispute heads towards legal action
He has also claimed that stock market expert and Lift Global Ventures founder Zak Mir has 鈥渂een paid a five-figure sum by Amazing AI to promote its shares鈥�.聽
The company said it is already in discussions with multiple parties to appoint a replacement adviser 鈥渁s soon as practicable鈥� and expects trading to resume once that process is complete.
On Tuesday morning, 老九品茶Cloud reported that Amazing AI has said material published about it and CEO Mathieson on the Share Prophets website is false and defamatory, and has given the parties a three-day deadline to respond before moving to court.
Winnifrith claims to be 鈥渢rolled on the internet with an almost daily diet of online harassment and smears鈥�, and says he receives lawyers鈥� letters from 鈥渃rooks trying to silence him as well as a number of death threats鈥�.
Over recent months, ShareProphets has run a series of stories on Amazing AI, including attacks on its strategy and public statements.