Andrew Left Loses Landmark Fraud Trial
Andrew Left, founder of Citron Research
Photographer: James Jackman/Bloomberg
Andrew Left, the founder of Citron Research and one of the best-known names in short selling, was found guilty of securities fraud after a closely watched trial in Los Angeles, Erik Larson reports. Federal prosecutors said Left used explosive tweets about dozens of companies to move stock prices and make quick profits, earning about $20 million from the scheme between 2018 and 2023.
The three-week trial put a spotlight on the boundaries between opinionated market commentary and criminal market manipulation. Left took the unusual step of testifying in his own defense, telling jurors ...