Tag Archives: Short selling

SEC Short-and-Distort Scheme

On Sep. 12, SEC charged hedge fund for short-and-distort scheme. Lemelson Capital profited from driving down price of Ligand Pharmaceuticals. Alleged Violations Defendant took a short position in May 2014, on behalf of The Amvona Fund. Gregory Lemelson then issued false information about Ligand so the price fell. Ligand’s stock lost more than one-third of…
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