Business
A Short Seller’s Fraud Conviction Is Spooking Wall Street
Many of the loudest voices on Wall Street belong to investors who talk their own books. An unexpected trial verdict could keep many of them quiet.
Short seller Andrew Left’s conviction this week on securities-fraud charges has shocked an influential niche of the stock market whose calling card is its ability to affect stock prices. Activist short sellers release reports on companies that they say are overvalued or hiding information from shareholders, then cash in on the selloffs their ideas sometimes induce.
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