Short Seller Andrew Left Loses Bid to Toss Out SEC Fraud Case

A US judge denied short seller Andrew Left’s bid to toss out a Securities and Exchange Commission lawsuit accusing him of committing fraud through stock trades, social media posts and research reports.

The decision Wednesday in Los Angeles federal court comes as Left awaits a ruling on a separate request to dismiss related criminal charges by the US Justice Department over the same alleged conduct.

Left and his firm, Citron Research, are accused in both cases of misleading investors with inflammatory social media posts setting “extreme” target prices for some companies in hopes of nudging stock prices long ...