This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Short-seller Andrew Left has asked a federal judge in Los Angeles to throw out charges he faces from the U.S. Securities and Exchange Commission for a scheme involving multiple stocks in Canada and the United States. The SEC claims that Mr. Left, 54, generated $20-million by trading against his own stock recommendations. (All figures are in U.S. dollars.) He used his publication, Citron Research LLC, to take advantage of investors who followed him, the SEC says.

With the case yet to go to trial, Mr. Left filed a motion on Friday, Oct. 4, asking a judge to dismiss the matter. As Mr. Left sees things, the SEC made "misleading half-truths" in charging him. "The SEC quotes extensively from Citron's website, reports, and tweets, but strategically omits the disclaimers in each publication disclosing the very facts the SEC alleges were not disclosed," the motion states. In legal terms, Mr. Left contends that the SEC has failed to "allege a cognizable theory of fraud."

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS