This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Mike Caswell

Andrew Left, the activist short publisher charged for a two-year scheme to manipulate Canadian and U.S. listings, has secured his freedom on a $4-million bond. (All figures are in U.S. dollars.) Mr. Left, who runs Citron Research, was required to post $1-million in cash as collateral as part of his bond. According to court filings, he deposited the money on Monday, Aug. 5.

The bond comes as part of a case in which the government claims that Mr. Left, 54, misused his investment publication to generate $20-million in trading profits. He frequently traded against his own recommendations, taking advantage of unsuspecting investors who followed his advice, prosecutors say. Mr. Left pleaded not guilty to the charges, which are one count of engaging in a securities fraud scheme, 17 counts of securities fraud and one count of making false statements to federal investigators.

As with most federal defendants, Mr. Left was required to appear before a judge after his arrest. At that appearance, the judge released Mr. Left on terms that included a $4-million bond. Also part of the bond is the $1-million in collateral that Mr. Left posted on Monday.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS