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Andrew Left's Defense Goes on the Offense in Securities Fraud Trial ...
Andrew Left, pictured right, leaving court in Los Angeles on Tuesday. Dania Maxwell/Bloomberg/Getty Images Andrew Left's defense argued he exposed fraud at Namaste Technologies during his trial. Left's lawyer suggested the government went after him for being a "whistleblower of the fraud." Left is accused of market manipulation. The defense says he shared his honest opinions. Andrew Left's defense played offense during his securities fraud trial on Friday, pressing a federal official on why the government targeted him rather than the company he accused of fraud. Left, a prominent short-seller known for bets on stocks like GameStop and frequent TV appearances, is accused of manipulating the market and deceiving everyday investors, earning over $20 million in the process.Among the companies Left is accused of making misleading statements about is Namaste Technologies, a Canadian cannabis company that traded over the counter in the US under the stock ticker NXTTF. Left published critical tweets and reports through his firm, Citron Research, about Namaste in the fall of 2018, accusing it of fraud.Left's defense contends that the short-seller was right about Namaste.On Friday, during the cross-examination of Anna Hallstrom, a US postal inspector who helped investigate Left, the defense suggested that the federal government went after the "whistleblower of the fraud" rather than the perpetrator. Eric Rosen, Left's lawyer, outlined what he called "scammy" behavior from Namaste, including planning a "Pledge Party" that told investors if they held their shares for 90 days, they'd get to "party with Snoop Dogg in Montreal." Left had also raised concerns about Namaste's CEO, who was later fired.Rosen said that after Left accused Namaste of fraud, "no one stepped in to stop the scam." Namaste was also discussed in the courtroom a day earlier, when a retired firefighter named Billy Banks testified that he'd lost thousands of dollars investing in the company after Left criticized it and the stock tanked.Rosen asked Hallstrom if she agreed that "people like Mr. Banks need to be protected" and that "regulators weren't stepping in, right?""I don't know why there wasn't any regulators stepping in," Hallstrom said.Rosen also pressed Hallstrom on whether she agreed it was good for people to expose fraud: "It's good to do your own research and put it out on the internet so other people can be saved from investing money in scams, right?""But it's bad if he wants to trade ...
'He's a big deal': Prosecutors say Andrew Left used his online ... - MSN
Short-seller Andrew Left is on trial in Los Angeles for securities fraud, accused of market manipulation through misleading tweets and trades.
Short Seller Andrew Left to Stand Trial in LA Over Manipulation Charges
WASHINGTON, May 11 (Reuters) - High-profile short seller Andrew Left's criminal trial will kick off in Los Angeles this week, spotlighting a contentious cohort of investors who have for ...
Andrew Left heads to trial as short-selling faces a legal reckoning
The Citron Research founder faces securities fraud charges that could reshape how activist short sellers operate - and communicate.
