Hyundai Life Boat (HLB) originally started life as a Korean lifeboat manufacturer which listed on the KOSDAQ in 2006. As shipbuilding came under pressure from aggressive Chinese competition, the company diversified into biotech research in 2015. In November 2019, HLB was attacked by short-seller Valiant Varriors which alleged that it was a stock promote given that its cancer drug was no more effective than a placebo. There were no allegations of accounting fraud.
Last updated March 2022
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