Odaily Planet Daily reported that Peter Tassiopoulos, CEO of ALT5 Sigma, a listed company that recently announced the adoption of the WLFI reserve strategy, has been suspended by the board of directors and relieved of his paid duties. Jonathan Hugh has been appointed acting CEO, effective immediately.

The management changes come as the company's stock price has fallen nearly 20% over the past week, bringing its share price down 83% from its 52-week high of $10.95. The company's next earnings report is due on November 18.