US Accuses Famed Short-Seller Andrew Left of Securities Fraud
- SEC sues Left, Citron over stock short selling and research
- Justice Department announces criminal case against Left
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US authorities accused famed short-seller Andrew Left of committing fraud through stock trades, social media posts and research reports — their biggest move yet in a yearslong crackdown against traders who tout their bearish bets.
The Securities and Exchange Commission alleged Friday that Left used his firm, Citron, to generate about $20 million in profits from illegal trading involving almost two dozen companies. The Justice Department also announced a criminal case against Left, accusing him of securities fraud and allegedly lying to investigators about compensation from hedge funds.