Overview
- A jury was seated Monday in Los Angeles, with opening statements set for Tuesday in a trial expected to last two to three weeks.
- Prosecutors say Left used his Citron website, TV spots, and a large Twitter following to push stock prices, then traded for profit while hiding deals with hedge funds and misstating his own positions.
- In one cited example, he said on TV he had covered only a small part of a short while records show he had already closed more than 60% earlier that day.
- Left’s lawyers say he shared honestly held views that fall under free speech, arguing the question is whether he believed what he said at the time.
- He faces up to 25 years in prison if convicted, and legal experts say proving intent to manipulate will be the government’s toughest hurdle in a trial closely watched by short sellers.