Legal

Short Seller Andrew Left Asks Judge to Dismiss SEC Fraud Case

SEC suit enforces a rule that doesn’t exist, his lawyer argues
Left is also facing criminal fraud charges over price targets

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By Erik Larson

October 4, 2024 at 9:08 PM UTC

This article is for subscribers only.

Short seller Andrew Left said a Securities and Exchange Commission lawsuit was accusing him of breaking a rule that doesn’t exist and asked a judge to dismiss the regulator’s fraud claims against him.

Left, 54, is facing both criminal and civil cases alleging he and his firm, Citron Research, misled investors with inflammatory social media posts setting “extreme” target prices in hopes of nudging stock prices long enough for him to make profitable trades.