Left, a prominent investor who made bets against GameStop and other stocks, issued misleading reports, the SEC and Justice Department claim.
Prominent short seller Andrew Left, the founder of Citron Research, has been charged by the U.S. Department of Justice with multiple counts of securities fraud for a $16 million stock market manipulation scheme.The Department of Justice said in a statement on Friday that Left is charged with one count of engaging in a securities fraud scheme, 17 counts of securities fraud and one count of making false statements to federal investigators.
But securities regulators allege that after Left and Citron published opinions on 23 companies whose stock prices subsequently moved more than 12% on average, they quickly reversed their positions to profit from those stock moves.'Left bought back stock immediately after telling his readers to sell, and he sold stock immediately after telling his readers to buy,' the SEC claimed in a Friday statement.
Gamestop United States Department Of Justice
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Federal grand jury charges short seller Andrew Left in $16M stock manipulation schemeA federal grand jury in California has charged activist short seller Andrew Left with multiple counts of securities fraud for a $16 million stock market manipulation scheme.
Read more »
Federal grand jury charges short seller Andrew Left in $16M stock manipulation schemeA federal grand jury in California has charged activist short seller Andrew Left with multiple counts of securities fraud for a $16 million stock market manipulation scheme.
Read more »
Federal grand jury charges short seller Andrew Left in $16M stock manipulation schemeA federal grand jury in California has charged activist short seller Andrew Left with multiple counts of securities fraud for a $16 million stock market manipulation scheme.
Read more »
Risky Research Review Act looks to transform government-funded researchPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Read more »
US indicts Andrew Left in $16 million stock market manipulation schemeUS indicts Andrew Left in $16 million stock market manipulation scheme
Read more »
Short seller Andrew Left charged with fraud by prosecutors, SECShort seller Andrew Left is accused in the indictment with crimes related to trades in Nvidia, and with concealing his Citron Capital's relationships.
Read more »