Citron Research founder Andrew Left found guilty of securities fraud
Andrew Left was convicted on 13 of 17 counts in a stock manipulation case tied to social media posts, with prosecutors saying the conduct spanned 2018 to 2023 and generated more than $20 million.
Summary
Citron Research founder Andrew Left was convicted on 13 of 17 counts, including securities fraud, in a stock manipulation case linked to social media posts. Prosecutors said he influenced the shares of dozens of companies between 2018 and 2023 and made more than $20 million from the conduct. Sentencing is scheduled for August 31.
Terms & Concepts
- Securities fraud: Illegal conduct involving deception or manipulation in financial markets to gain money or avoid losses.
- Market manipulation: Actions intended to artificially affect an asset’s price or trading activity, rather than reflect genuine market demand.