Penumbra (PEN) drops on short-seller note claiming fraud

• A short-seller charged in a report that Penumbra created a fake doctor to author research reports. The medical-device maker denies the claim.
• Quintessential Capital Management said the scientific literature produced by the medical-device maker  appeared to be authored by a "fake character." “This fraudulent character appears to have been fabricated by management in a reckless attempt to hide its involvement with critical research produced with significant undisclosed conflict of interest,” the report says.

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Gabriel Grego of Quintessential Capital Management speaking on CNBC 

In more than a dozen research papers over the past decade, an academic by the name of Dr. Antik Bose appeared to tout the reliability of catheters and other medical products made by Penumbra Inc. An internet search of Dr. Bose reveals a vivid character -- a billionaire medical researcher and hotelier with a taste for fine cars and homes. (source)

Quintessential says that photographs of a Dr. Antik Bose, the person claiming to author the reports, are either doctored or belong to unrelated persons. 

The firm's investigation into Bose's credentials also came to a dead end, according to Quintessential.

Penumbra responds to short seller report (source)

"Penumbra confirms the papers rumored to be attributed to Antik Bose are in fact attributed to Dr.Arani Bose. To imply that Dr. Arani Bose's peer-reviewed research, co-authored with a large cohort of his peers, was ever or would ever be attributed to anyone other than Dr. Arani Bose is inaccurate and conspiratorial. [...] These claims are baseless. Penumbra is reviewing its options of how to further respond."