NEW YORK, Jan 28 (Reuters) - Prominent short seller
Andrew Left is pressing a judge to dismiss U.S. charges that he
manipulated the market and defrauded investors with his negative
reports about companies, according to a document filed in
federal court on Monday.
U.S. authorities charged Left, the founder of Citron
Capital, in July, alleging he had for years made misleading
claims about his positions in multiple stocks, including Nvidia ( NVDA )
and Tesla. The case was the culmination of a
years-long probe by the Justice Department into short sellers'
trading activities.
In a motion to dismiss the charges filed in federal court in
California on Monday, Left's lawyer said prosecutors' claims
relate to the trader's opinions and the government failed to
prove Left did not believe them. The information at issue was
also not material to investors and Left had no responsibility to
disclose it, the filing said.
"Concealing economic information necessary for others to
make discretionary economic decisions is not fraud," Left's
lawyer James Spertus said in the filing.
The U.S. attorney's office in Los Angeles, which filed the
charges, could not be reached immediately for request for
comment.