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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.
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The IndependentReposted by 
The Independent (US)
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’
·London, United Kingdom
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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.
·New York, United States
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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.
·New York, United States
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Coverage Details
Total News Sources17
Leaning Left7Leaning Right4Center2Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
15%
R 31%
Factuality
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