Left Argues Short Selling Case Shouldn’t Be Criminal (Correct)

A lawyer for Andrew Lefturged a judge on Monday to toss out securities fraud charges against the activist short seller, arguing that a criminal case with a threat of decades behind bars isn’t the way to create new rules for the industry.

A parallel civil suit by the US Securities and Exchange Commission is a more reasonable way to proceed with creating new rules for the lightly regulated industry and the criminal case should be dismissed, Left’s lawyer, Eric Rosen, said at a hearing Monday in federal court in Los Angeles. A judge in April denied Left’s request to ...