SEC has filed a lawsuit against Andrew Left and Citron Capital, accusing them of engaging in fraudulent practices related to short selling of stocks. The complaint alleges that Left and Citron Capital manipulated stock prices through misleading reports and trading tactics.
Federal prosecutors have accused Andrew Left of manipulating the prices of 15 different stocks, resulting in earnings of $16 million. Additionally, Left faces charges for allegedly providing false information to investigators regarding his connections with a hedge fund.
Citron Research shorted Gamestop ($GME) on two separate occasions, including in 2021 and 2024. The SEC alleges that Left sold his shorts right after announcing his position, accusing both Left and Citron of committing fraud and making illegal profits. Recently, Citron Research publicly declared their short position on Gamestop via a post on X.
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