Short Seller Andrew Left Convicted of Securities Fraud
Jurors found the Citron Research founder guilty on the lead charge and 12 additional counts after two days of deliberations.
- On Monday, a federal jury convicted Andrew Left, founder of Citron Research, of securities fraud and 12 of 16 additional counts following a three-week trial in Los Angeles.
- Prosecutors alleged Left manipulated the market to profit more than $20 million by issuing reports on companies he bet against while secretly trading against those positions.
- During closing arguments, prosecutor Matthew Reilly told jurors Left was "tweeting with one hand and trading with the other," citing private messages revealing coordination with hedge funds.
- Left faces up to 25 years in federal prison when sentenced on August 31; he told reporters, "I think the jury got it wrong," hinting at appeal.
- Frank Zhang, accounting professor at the Yale School of Management, said the verdict will have a "chilling effect" on short sellers as the case examines activist short-selling boundaries.
29 Articles
29 Articles
Prominent Short Seller Andrew Left Convicted In US Securities Fraud Case (Worthy News Focus)
by Stefan J. Bos, Worthy News Chief International Correspondent LOS ANGELES, USA (Worthy News) – Andrew Left, one of the world’s most prominent short sellers and founder of Citron Research, was convicted Monday on multiple securities fraud charges in a landmark U.S. case examining whether social media posts about publicly traded companies crossed the line into illegal market manipulation. A federal jury in Los Angeles found Left guilty on 13 of …
Short-seller Andrew Left will appeal fraud conviction
Activist short-seller Andrew Left was convicted in Los Angeles yesterday on 12 counts of securities fraud, in a case initiated under President Biden and eagerly picked up by Trump’s Justice Department.Caustic, media-friendly, and beloved by retail traders, Left was convicted for airing his criticisms of publicly traded companies and then closing out his positions after the shares fell, which prosecutors said amounted to market manipulation. “Lef…
The Independent
The Independent (US)Short seller convicted of securities fraud after ‘callous’ boasting
The investor took to social media after the verdict, writing, ‘This is not over’
Associated Press News
Short seller Andrew Left convicted of securities fraud
A federal grand jury in California has convicted short seller Andrew Left of securities fraud. The Justice Department said Tuesday that Left was convicted of one count of participating in a securities fraud scheme and 12 counts of securities fraud.
Activist short seller convicted of securities fraud for trades tied to Nvidia, Tesla and more
Andrew Left, the outspoken activist short seller who built a career exposing alleged corporate frauds and betting against stocks, was convicted by a federal jury in Los Angeles on securities fraud charges over manipulating stock prices.
Andrew Left found guilty in case that spooked short sellers
Left, who gained a large online following with his blunt commentary about major US companies as well as smaller stocks popular with retail traders, was convicted Monday following a three-week trial in Los Angeles.
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