Abaxx Technologies Inc. has asked Canadian market regulators to investigate potential manipulative trading in its shares, escalating a dispute with short seller Viceroy Research. The Toronto-based market infrastructure company contacted the Canadian Investment Regulatory Organization on Sunday to request a review of trading activity by Viceroy and other parties.

The move comes after Viceroy launched a short-selling campaign targeting Abaxx shares, triggering volatility in the stock. Abaxx has retained Paul Weiss as legal counsel to help navigate the fallout from these allegations. The company is seeking regulatory scrutiny of what it believes may be improper market conduct.

Abaxx's Singapore subsidiary has also proactively reached out to the Monetary Authority of Singapore regarding the short seller's claims. This cross-border response suggests the company is taking a coordinated approach to defending itself against the attack on its share price and business reputation.

The episode highlights how activist short sellers can pressure companies to seek regulatory intervention when facing intense scrutiny. For investors, it underscores the risks of holding positions in smaller market infrastructure firms that become targets of bear raids.