DBGI cancels 7.1M pre-funded warrants; investigating collusion and 4.99% cap violations

Digital Brands Group, Inc.

Cancelled 7.1 million pre-funded warrants pending legal investigation into suspected misconduct.
Investigation covers collusion, acting in concert, 4.99% beneficial ownership cap violations, and use of foreign silent partners as nominees.
Shareholders flagged transfer agent discrepancies and share count inaccuracies related to the warrants.
Company reaffirms commitment to SEC compliance and fair market transparency.
Further updates expected as the investigation proceeds.

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