Andrew Left: Difference between revisions

The neutral encyclopedia of notable people
Content engine: create biography for Andrew Left (2592 words)
 
Content engine: create biography for Andrew Left (2551 words) [update]
 
Line 1: Line 1:
{{Infobox person
{{Infobox person
| name         = Andrew Left
| name = Andrew Left
| birth_name   = Andrew Edward Left
| birth_name = Andrew Edward Left
| birth_date   = {{Birth date and age|1970|7|9}}
| birth_date = {{Birth date and age|1970|7|9}}
| birth_place = Michigan, U.S.
| birth_place = Michigan, U.S.
| nationality = American
| nationality = American
| alma_mater   = Northeastern University
| alma_mater = Northeastern University
| occupation   = Financial analyst, financial writer, short seller
| occupation = Financial analyst, financial writer, short seller
| years_active = 1995–present
| years_active = 1995–present
| organization = Citron Research
| organization = Citron Research
| known_for   = Activist short selling, founder of Citron Research
| known_for = Activist short selling, founder of Citron Research
| website      = {{URL|citronresearch.com}}
}}
}}


'''Andrew Edward Left''' (born July 9, 1970) is an American activist short seller, financial analyst, and the founder and editor of '''Citron Research''', an online investment research publication formerly known as StockLemon.com. Over a career spanning more than two decades, Left has built a reputation as one of the most prominent and polarizing figures in the world of short selling, publishing investigative reports on publicly traded companies he alleges are overvalued or engaged in fraudulent business practices. His reports have targeted firms across the S&P 500 as well as several Chinese companies listed on American exchanges, citing allegations ranging from pyramid schemes and ineffective products to accounting fraud.<ref name="nyt-bounty">{{cite web |title=Citron Research |url=http://citronresearch.com/ |publisher=Citron Research |access-date=2026-02-24}}</ref> In 2017, ''The New York Times'' dubbed Left "The Bounty Hunter of Wall Street" for his combative approach to uncovering corporate wrongdoing. His most notable short campaigns include his 2015 report on Valeant Pharmaceuticals, which contributed to a dramatic decline in the company's stock price. Left has been a frequent guest on financial media outlets including CNBC and Bloomberg, where he discusses his investment theses and opinions on stocks.<ref name="bi-life">{{cite news |title=Citron's Andrew Left on life as a short seller |url=http://www.businessinsider.com/citrons-andrew-left-on-life-as-a-short-seller-2012-2 |work=Business Insider |access-date=2026-02-24}}</ref> In July 2024, federal prosecutors arrested and charged Left with multiple civil and criminal counts, alleging he illegally manipulated the stock market through his short-selling activities. As of early 2026, the criminal case remains pending after a federal judge rejected Left's motion to dismiss the charges.<ref name="reuters-dismiss">{{cite news |title=Prominent short seller Andrew Left fails to end US criminal fraud case |url=https://www.reuters.com/legal/government/prominent-short-seller-andrew-left-fails-end-us-criminal-fraud-case-2025-12-30/ |work=Reuters |date=2025-12-30 |access-date=2026-02-24}}</ref>
'''Andrew Edward Left''' (born July 9, 1970) is an American activist short seller, financial analyst, and the founder and editor of '''Citron Research''', an online investment research publication formerly known as StockLemon.com. Through Citron, Left has published investigative reports on publicly traded companies he alleges are overvalued, engaged in fraud, or operating under questionable business practices. His reports have targeted firms across the S&P 500 as well as several Chinese companies listed on American exchanges, and his research has at times precipitated significant declines in the share prices of his subjects. Left has been a frequent commentator on financial media outlets including CNBC and Bloomberg, where he has discussed his views on specific stocks and the practice of short selling more broadly. In 2017, ''The New York Times'' referred to him as "The Bounty Hunter of Wall Street."<ref>{{cite web |title=Citron Research |url=http://citronresearch.com/ |publisher=Citron Research |access-date=2026-02-24}}</ref> Left's career has been marked by both notable successes—including his prescient short position in Valeant Pharmaceuticals—and significant legal challenges, including a five-year ban from trading in Hong Kong and, in 2024, federal criminal charges alleging securities fraud and market manipulation. As of early 2026, Left faces an ongoing criminal trial in the United States.<ref>{{cite news |last= |first= |date=2025-12-30 |title=Prominent short seller Andrew Left fails to end US criminal fraud case |url=https://www.reuters.com/legal/government/prominent-short-seller-andrew-left-fails-end-us-criminal-fraud-case-2025-12-30/ |work=Reuters |access-date=2026-02-24}}</ref>


== Early Life ==
== Early Life ==


Andrew Edward Left was born on July 9, 1970, in Michigan, United States. Limited publicly documented information is available about his childhood and family background. Left grew up in Michigan before pursuing higher education on the East Coast.<ref name="bi-profile">{{cite news |title=Andrew Left Citron Research |url=http://www.businessinsider.com/andrew-left-citron-research-2015-11 |work=Business Insider |date=2015-11 |access-date=2026-02-24}}</ref>
Andrew Edward Left was born on July 9, 1970, in Michigan, United States. Limited publicly documented information is available regarding his childhood and family background. Left grew up in Michigan before pursuing higher education in the northeastern United States.<ref>{{cite web |title=Andrew Left — Citron Research |url=http://www.businessinsider.com/citrons-andrew-left-on-life-as-a-short-seller-2012-2 |publisher=Business Insider |date=2012-02 |access-date=2026-02-24}}</ref>


== Education ==
== Education ==


Left attended Northeastern University in Boston, Massachusetts, where he completed his undergraduate studies. Northeastern is known for its cooperative education program, which integrates classroom study with professional experience. Details regarding his specific degree and year of graduation have not been widely documented in available sources.<ref name="bi-profile" />
Left attended Northeastern University in Boston, Massachusetts, where he completed his undergraduate studies. Northeastern's cooperative education program, which integrates academic instruction with professional work experience, provided Left with early exposure to the financial industry.<ref>{{cite web |title=Andrew Left — Citron Research |url=http://www.businessinsider.com/andrew-left-citron-research-2015-11 |publisher=Business Insider |date=2015-11 |access-date=2026-02-24}}</ref>


== Career ==
== Career ==


=== Early Career and Founding of Citron Research ===
=== Early Career and National Futures Association Sanction ===


Left began his career in the financial industry in the mid-1990s. Before founding Citron Research, Left was involved in commodity futures trading. During this period, the National Futures Association (NFA) sanctioned Left, stating that he "made false and misleading statements to cheat, defraud or deceive a customer in violation of NFA compliance rules."<ref name="secinfo">{{cite web |title=SEC Filing Information |url=http://www.secinfo.com/duTqj.4f89h.htm |publisher=SECInfo |access-date=2026-02-24}}</ref> This early regulatory action would foreshadow the contentious relationship Left maintained with regulators and corporate targets throughout his career.
Left began his career in the financial industry in the mid-1990s. Before establishing Citron Research, Left was involved in futures trading. During this period, the National Futures Association (NFA), a self-regulatory organization for the U.S. derivatives industry, sanctioned Left. The NFA stated that Left "made false and misleading statements to cheat, defraud or deceive a customer in violation of NFA compliance rules."<ref>{{cite web |title=SEC Info |url=http://www.secinfo.com/duTqj.4f89h.htm |publisher=SEC Info |access-date=2026-02-24}}</ref> This early regulatory action would foreshadow Left's contentious relationship with financial regulators throughout his career.


Left subsequently transitioned into equity research and short selling, launching an online investment newsletter initially called StockLemon.com. The publication was later rebranded as Citron Research, under which Left published investigative reports on publicly traded companies he believed were overvalued or engaged in fraudulent practices.<ref name="citron-site">{{cite web |title=Citron Research |url=http://citronresearch.com/ |publisher=Citron Research |access-date=2026-02-24}}</ref> The model was straightforward: Left would take a short position in a company's stock, publish a detailed report outlining his thesis for why the stock should decline, and profit if the share price fell. This practice, known as activist short selling, has long been controversial on Wall Street, with proponents arguing it serves as a check against corporate fraud and critics alleging it amounts to market manipulation.
=== Founding of Citron Research ===


Over the years, Citron Research launched 51 investigative reports against S&P 500 companies, as well as reports on several Chinese companies trading on U.S. exchanges.<ref name="bi-life" /> Left's reports typically cited allegations of pyramid schemes, ineffective products, accounting irregularities, or outright business fraud. Despite being sued by multiple companies for the reports he published, Left has maintained that he has never lost a case in the United States.<ref name="dmlp">{{cite web |title=GTX Global Corp. v. Left |url=http://www.dmlp.org/threats/gtx-global-corp-v-left |publisher=Digital Media Law Project |access-date=2026-02-24}}</ref><ref name="internetlib">{{cite web |title=Case Library |url=http://www.internetlibrary.com/cases/lib_case486.cfm |publisher=Internet Library of Law and Court Decisions |access-date=2026-02-24}}</ref>
Left founded his online investment research publication initially under the name '''StockLemon.com''' before rebranding it as '''Citron Research'''. The publication became Left's primary vehicle for disseminating investigative reports on publicly traded companies. Operating as an independent research outlet rather than through a traditional Wall Street institution, Citron Research occupies a niche in the financial ecosystem as an activist short-selling publication. Left's model involves conducting research on companies he believes are overvalued or engaged in fraudulent practices, publishing his findings, and taking short positions that profit if the targeted company's stock price declines.<ref>{{cite web |title=Citron Research |url=http://citronresearch.com/ |publisher=Citron Research |access-date=2026-02-24}}</ref>


=== Chinese Reverse Merger Companies ===
Over the course of its operation, Citron Research launched 51 investigative reports against S&P 500 companies. The reports have cited a range of allegations, including pyramid schemes, ineffective products, and accounting or business fraud. Left has also targeted several Chinese companies listed on U.S. exchanges, contributing to a broader wave of scrutiny over the financial reporting practices of Chinese firms seeking access to American capital markets.<ref name="BI2015">{{cite web |title=Andrew Left and Citron Research |url=http://www.businessinsider.com/andrew-left-citron-research-2015-11 |publisher=Business Insider |date=2015-11 |access-date=2026-02-24}}</ref>


Left gained considerable attention in the early 2010s for his reports on Chinese companies listed on American stock exchanges, many of which had entered U.S. markets through reverse mergers. These reports were part of a broader wave of short-seller scrutiny of Chinese firms that raised questions about the reliability of their financial disclosures and the adequacy of U.S. regulatory oversight of foreign-listed companies.
Despite being sued by multiple companies in response to the reports he has published, Left has maintained that he has never lost a case in the United States.<ref name="BI2015" />


One of Left's most significant and consequential reports on a Chinese company targeted Evergrande Group, a major Chinese property developer. In June 2012, Left published a report through Citron Research alleging fraud at Evergrande, which caused the company's stock to tumble.<ref name="mw-evergrande">{{cite news |title=Evergrande stock tumbles on fraud accusation |url=http://www.marketwatch.com/story/evergrande-stock-tumbles-on-fraud-accusation-2012-06-21 |work=MarketWatch |date=2012-06-21 |access-date=2026-02-24}}</ref> The report attracted the attention of Hong Kong financial regulators. In 2016, Left was banned for five years by the Hong Kong Market Misconduct Tribunal, chaired by Justice Michael Hartmann, for allegedly disclosing false or misleading information in connection with the publication of his research report on Evergrande, thereby inducing transactions in violation of the Securities and Futures Ordinance.<ref name="wsj-hk-trial">{{cite news |title=The Short Who Got Valeant Right Is on Trial in Hong Kong |url=https://www.wsj.com/articles/the-short-who-got-valeant-right-is-on-trial-in-hong-kong-1458065388 |work=The Wall Street Journal |date=2016-03-15 |access-date=2026-02-24}}</ref> Left and his supporters noted that his fundamental thesis about Evergrande's financial condition was ultimately vindicated — the company later became the centerpiece of a massive debt crisis in the Chinese real estate sector — but his punishment was not rescinded. The Hong Kong ban prohibited Left from trading in the Hong Kong securities market for the duration of the five-year period.
=== Evergrande Group Report and Hong Kong Ban ===
 
In June 2012, Citron Research published a report on Chinese property developer '''Evergrande Group''', alleging the company was engaged in fraud. Following the publication of the report, Evergrande's stock price fell significantly.<ref>{{cite news |last= |first= |date=2012-06-21 |title=Evergrande stock tumbles on fraud accusation |url=http://www.marketwatch.com/story/evergrande-stock-tumbles-on-fraud-accusation-2012-06-21 |work=MarketWatch |access-date=2026-02-24}}</ref>
 
The Hong Kong Market Misconduct Tribunal, chaired by Justice Michael Hartmann, subsequently investigated Left's report. In 2016, the Tribunal banned Left from trading in Hong Kong markets for a period of five years. The Tribunal found that Left had disclosed false or misleading information in connection with the Evergrande report, thereby inducing transactions in violation of the Securities and Futures Ordinance. Left's case was notable because although his underlying thesis about Evergrande's financial condition was later vindicated—the company would eventually default on its debts in a spectacular collapse that reverberated through global financial markets—his punishment was not rescinded. The case highlighted the tension between the substance of short-seller research and the methods used to disseminate it.<ref>{{cite news |last= |first= |date=2016-03-16 |title=The Short Who Got Valeant Right Is on Trial in Hong Kong |url=https://www.wsj.com/articles/the-short-who-got-valeant-right-is-on-trial-in-hong-kong-1458065388 |work=The Wall Street Journal |access-date=2026-02-24}}</ref>


=== Valeant Pharmaceuticals ===
=== Valeant Pharmaceuticals ===


Left's most prominent and impactful short campaign was arguably his targeting of Valeant Pharmaceuticals International, a Canadian pharmaceutical company that had become one of the most closely followed stocks on Wall Street. In October 2015, Left published a report through Citron Research comparing Valeant to Enron, the energy company whose 2001 collapse became synonymous with corporate fraud. Left alleged that Valeant was using a specialty pharmacy called Philidor Rx Services to artificially inflate its revenues through questionable distribution practices.<ref name="wsj-valeant">{{cite news |title=The Short Who Sank Valeant Stock |url=https://www.wsj.com/articles/the-short-who-sank-valeant-stock-1445557157 |work=The Wall Street Journal |date=2015-10-22 |access-date=2026-02-24}}</ref>
Left's most prominent and consequential research campaign was directed at '''Valeant Pharmaceuticals International''' (later renamed Bausch Health Companies). In October 2015, Citron Research published a report comparing Valeant's business practices to those of Enron, the energy company whose accounting fraud led to one of the largest corporate collapses in American history. Left alleged that Valeant's relationship with specialty pharmacy Philidor Rx Services constituted a scheme to inflate revenue figures and that the company's broader business model of acquiring other pharmaceutical firms and dramatically raising drug prices was unsustainable.<ref>{{cite news |last= |first= |date=2015-10-22 |title=The Short Who Sank Valeant Stock |url=https://www.wsj.com/articles/the-short-who-sank-valeant-stock-1445557157 |work=The Wall Street Journal |access-date=2026-02-24}}</ref>


The report had an immediate and dramatic effect. Valeant's stock price plummeted, wiping out billions of dollars in market value. The decline was particularly painful for prominent hedge fund manager Bill Ackman of Pershing Square Capital Management, who held a large long position in Valeant and suffered significant losses as the stock continued to fall.<ref name="bloomberg-ackman">{{cite news |title=Ackman Feeling Short Seller's Sting as Citron Sinks Valeant Stock |url=https://www.bloomberg.com/news/articles/2015-10-21/ackman-feeling-shortseller-s-sting-as-citron-sinks-valeant-stock |work=Bloomberg News |date=2015-10-21 |access-date=2026-02-24}}</ref><ref name="fp-ackman">{{cite news |title=Bill Ackman among investors feeling Valeant Pharmaceutical's pain with billions erased in stock fall |url=http://business.financialpost.com/investing/market-moves/bill-ackman-among-investors-feeling-valeant-pharmaceutical-incs-pain-with-billions-erased-in-stock-fall |work=Financial Post |access-date=2026-02-24}}</ref>
The Citron report had an immediate and dramatic effect on Valeant's stock price. Billionaire hedge fund manager Bill Ackman, whose Pershing Square Capital Management held a large long position in Valeant, was among the investors who sustained significant losses as the company's shares plummeted.<ref>{{cite news |last= |first= |date=2015-10-21 |title=Ackman Feeling Shortseller's Sting as Citron Sinks Valeant Stock |url=https://www.bloomberg.com/news/articles/2015-10-21/ackman-feeling-shortseller-s-sting-as-citron-sinks-valeant-stock |work=Bloomberg News |access-date=2026-02-24}}</ref> The Financial Post reported that billions of dollars in market value were erased from Valeant's stock in the wake of the short-selling campaign and the subsequent revelations about the company's practices.<ref>{{cite news |last= |first= |date= |title=Bill Ackman among investors feeling Valeant Pharmaceutical Inc's pain with billions erased in stock fall |url=http://business.financialpost.com/investing/market-moves/bill-ackman-among-investors-feeling-valeant-pharmaceutical-incs-pain-with-billions-erased-in-stock-fall |work=Financial Post |access-date=2026-02-24}}</ref>


The Valeant saga continued to unfold in the months that followed. In March 2016, Left declared that Valeant was "uninvestable," citing the company's mounting legal and regulatory problems.<ref name="bi-uninvestable">{{cite news |title=Short seller says Valeant is 'uninvestable' |url=http://www.businessinsider.com/short-seller-says-valeant-is-uninvestable-2016-3 |work=Business Insider |date=2016-03 |access-date=2026-02-24}}</ref> The ''Los Angeles Times'' and other outlets covered the expanding scandal extensively, noting the broader implications for pharmaceutical pricing practices and corporate governance.<ref name="lat-valeant">{{cite news |title=Valeant scandal |url=http://www.latimes.com/business/hiltzik/la-fi-mh-valeant-scandal-20151103-column.html |work=Los Angeles Times |date=2015-11-03 |access-date=2026-02-24}}</ref> ''Fortune'' later published a comprehensive timeline of the Valeant scandal, documenting the company's rise and fall.<ref name="fortune-timeline">{{cite news |title=Valeant Timeline Scandal |url=http://fortune.com/2016/03/20/valeant-timeline-scandal/ |work=Fortune |date=2016-03-20 |access-date=2026-02-24}}</ref>
The ''Los Angeles Times'' covered the widening Valeant scandal in detail, noting how the controversy extended beyond Left's initial allegations to encompass broader questions about pharmaceutical pricing, corporate governance, and the relationship between Valeant and its network of specialty pharmacies.<ref>{{cite news |last= |first= |date=2015-11-03 |title=Valeant scandal |url=http://www.latimes.com/business/hiltzik/la-fi-mh-valeant-scandal-20151103-column.html |work=Los Angeles Times |access-date=2026-02-24}}</ref> By March 2016, Left had described Valeant as "uninvestable," reinforcing his bearish thesis even as some investors speculated about a potential recovery in the stock.<ref>{{cite news |last= |first= |date=2016-03 |title=Short seller says Valeant is 'uninvestable' |url=http://www.businessinsider.com/short-seller-says-valeant-is-uninvestable-2016-3 |work=Business Insider |access-date=2026-02-24}}</ref> ''Fortune'' magazine chronicled the timeline of the Valeant scandal, which became one of the defining corporate controversies of the mid-2010s.<ref>{{cite news |last= |first= |date=2016-03-20 |title=Valeant Timeline Scandal |url=http://fortune.com/2016/03/20/valeant-timeline-scandal/ |work=Fortune |access-date=2026-02-24}}</ref>


Valeant's stock, which had traded above $250 per share at its peak, eventually fell below $10. The company was subsequently renamed Bausch Health Companies. The Valeant episode cemented Left's reputation as a formidable force in the short-selling community and demonstrated the power of activist short research to move markets and draw regulatory attention to corporate practices.<ref name="fp-turnaround">{{cite news |title=Valeant Pharmaceutical short seller Andrew Left buying into the company does not signal a turnaround, says analyst |url=http://business.financialpost.com/investing/market-moves/valeant-pharmaceutical-short-seller-andrew-left-buying-into-the-company-does-not-signal-a-turnaround-says-analyst |work=Financial Post |access-date=2026-02-24}}</ref>
The Valeant case cemented Left's reputation as one of the most influential activist short sellers operating in the United States and demonstrated the capacity of independent research to challenge the practices of large publicly traded corporations.


=== Mallinckrodt and Pharmaceutical Pricing ===
=== Mallinckrodt Pharmaceuticals ===


Left also targeted Mallinckrodt Pharmaceuticals, another company that drew scrutiny for its drug pricing practices. In November 2015, Left published a tweet through Citron Research that drew attention to Mallinckrodt's H.P. Acthar Gel, a drug with a price tag of approximately $35,000, bringing the product's cost back into the public spotlight.<ref name="bloomberg-mallinckrodt">{{cite news |title=With Citron Tweet, Mallinckrodt's $35,000 Drug Back in Spotlight |url=https://www.bloomberg.com/news/articles/2015-11-09/with-citron-tweet-mallinckrodt-s-35-000-drug-back-in-spotlight |work=Bloomberg News |date=2015-11-09 |access-date=2026-02-24}}</ref> The report came during a period of heightened public and political scrutiny of pharmaceutical pricing in the United States, and Left's commentary contributed to the ongoing debate about the cost of specialty medications.
In November 2015, shortly after the Valeant report, Left turned his attention to '''Mallinckrodt Pharmaceuticals''', another company engaged in practices Left found questionable. Citron Research used its social media presence to draw attention to Mallinckrodt's H.P. Acthar Gel, a drug priced at approximately $35,000, placing the company's pricing practices back in the spotlight. Bloomberg reported on how a single tweet from Left's Citron Research account was sufficient to refocus public and investor attention on the pharmaceutical pricing controversy.<ref>{{cite news |last= |first= |date=2015-11-09 |title=With Citron Tweet, Mallinckrodt's $35,000 Drug Back in Spotlight |url=https://www.bloomberg.com/news/articles/2015-11-09/with-citron-tweet-mallinckrodt-s-35-000-drug-back-in-spotlight |work=Bloomberg News |access-date=2026-02-24}}</ref>


=== Legal Battles and Litigation ===
=== Legal Battles With Target Companies ===


Throughout his career, Left has faced numerous lawsuits from companies targeted in his Citron Research reports. Companies that were the subject of negative reports frequently accused Left of defamation, market manipulation, or publishing misleading information intended to profit from declining stock prices. Left has stated that despite being sued multiple times, he has never lost a case in the United States.<ref name="dmlp" /><ref name="internetlib" />
Throughout his career, Left has been the subject of numerous lawsuits filed by companies targeted in Citron Research reports. These cases have tested the boundaries of free speech, securities regulation, and the rights of short sellers to publicly criticize publicly traded companies.


One notable case involved GTX Global Corp., which sued Left over a Citron Research report. The case was documented by the Digital Media Law Project as part of its tracking of legal threats against online publishers and commentators.<ref name="dmlp" />
One notable case involved GTX Global Corp., which sued Left in response to critical research published by Citron. The case was documented by the Digital Media Law Project as an example of the legal risks faced by activist short sellers.<ref>{{cite web |title=GTX Global Corp. v. Left |url=http://www.dmlp.org/threats/gtx-global-corp-v-left |publisher=Digital Media Law Project |access-date=2026-02-24}}</ref> Another case involved litigation arising from Left's reporting on companies involved in disaster rebuilding, as reported by ''The Times-Picayune'' of New Orleans.<ref>{{cite news |last= |first= |date=2008-01 |title=Disaster rebuilder faces storm |url=http://www.nola.com/news/index.ssf/2008/01/disaster_rebuilder_faces_storm.html |work=The Times-Picayune |access-date=2026-02-24}}</ref>


Left's litigation record extended beyond U.S. courts. His 2016 ban by the Hong Kong Market Misconduct Tribunal in connection with his Evergrande report represented a significant legal setback in a foreign jurisdiction, even as he maintained that his underlying analysis of the company had been correct.<ref name="wsj-hk-trial" />
Additional litigation involving Left has been documented in internet law case archives, reflecting the recurring pattern of companies attempting to use the legal system to silence critical research from short sellers.<ref>{{cite web |title=Internet Library of Law and Court Decisions — Case 486 |url=http://www.internetlibrary.com/cases/lib_case486.cfm |publisher=Internet Library of Law and Court Decisions |access-date=2026-02-24}}</ref>


=== Federal Criminal and Civil Charges (2024–present) ===
Left has consistently maintained that he has never lost a lawsuit in the United States related to his research publications.


In July 2024, federal prosecutors arrested and charged Left with multiple civil and criminal counts alleging he illegally manipulated the stock market. The charges represented the most serious legal challenge Left had faced in his career and raised broader questions about the boundary between legitimate activist short selling and illegal market manipulation.<ref name="reuters-dismiss" />
=== Federal Criminal Charges (2024–present) ===


Left mounted an aggressive legal defense. He filed a motion to dismiss the criminal case, but on December 30, 2025, a federal judge rejected the motion, allowing the prosecution to proceed.<ref name="reuters-dismiss" /> In November 2025, Left took the unusual step of petitioning the Securities and Exchange Commission (SEC) to define what constitutes illegal short-selling activity, framing it as an effort to establish clear legal standards that he argued would demonstrate his innocence.<ref name="ii-gambit">{{cite news |title=Will Short Seller Andrew Left's Latest Gambit to Prove His Innocence Work? |url=https://www.institutionalinvestor.com/article/will-short-seller-andrew-lefts-latest-gambit-prove-his-innocence-work |work=Institutional Investor |date=2025-11-07 |access-date=2026-02-24}}</ref>
In July 2024, federal prosecutors arrested and charged Left with multiple civil and criminal charges. The indictment alleged that Left had illegally manipulated the stock market by publishing research reports through Citron Research and then trading against the positions he had publicly recommended to investors. The charges represented a significant escalation of regulatory action against Left and raised broader questions about the legal boundaries of activist short selling.<ref name="reuters2025">{{cite news |last= |first= |date=2025-12-30 |title=Prominent short seller Andrew Left fails to end US criminal fraud case |url=https://www.reuters.com/legal/government/prominent-short-seller-andrew-left-fails-end-us-criminal-fraud-case-2025-12-30/ |work=Reuters |access-date=2026-02-24}}</ref>


''Institutional Investor'' reported on Left's petition to the SEC, describing it as a legal gambit aimed at establishing that his trading practices fell within the bounds of permissible market activity.<ref name="ii-gambit" />
Left's legal team filed motions to dismiss the criminal case, arguing that the government's charges were based on conduct that fell within the bounds of lawful market commentary and trading activity. In December 2025, a federal judge rejected Left's bid to dismiss the case, ruling that the prosecution could proceed to trial.<ref name="reuters2025" />


As of early 2026, Left was preparing for a criminal trial expected later that year. In an unusual development reported by ''Business Insider'' in December 2025, Left was found to have been using Claude, an artificial intelligence chatbot, to help prepare for his legal defense. ''Business Insider'' obtained transcripts of Left's conversations with the AI, in which he discussed his fraud-trial concerns and legal strategy.<ref name="bi-ai">{{cite news |last= |first= |date=2025-12-15 |title=The surprising way famed short-seller Andrew Left is prepping for his high-stakes criminal trial |url=https://www.businessinsider.com/andrew-left-short-seller-securities-fraud-legal-defense-claude-ai-2025-12 |work=Business Insider |access-date=2026-02-24}}</ref> The report drew attention both for its revelations about Left's legal preparation and for its illustration of how AI tools were being used in novel ways by individuals facing complex legal proceedings.
In November 2025, ''Institutional Investor'' reported that Left had petitioned the Securities and Exchange Commission (SEC) to define what constitutes illegal "scalping"—the practice of publicly recommending a stock position while privately trading in the opposite direction. Left's petition sought formal regulatory guidance that he argued would clarify the ambiguity surrounding the legality of his trading practices and potentially undermine the government's case against him.<ref>{{cite news |last= |first= |date=2025-11-07 |title=Will Short Seller Andrew Left's Latest Gambit to Prove His Innocence Work? |url=https://www.institutionalinvestor.com/article/will-short-seller-andrew-lefts-latest-gambit-prove-his-innocence-work |work=Institutional Investor |access-date=2026-02-24}}</ref>
 
In December 2025, ''Business Insider'' reported that Left had been using the artificial intelligence chatbot Claude to prepare for his upcoming criminal trial. The publication reviewed Left's conversations with the AI system, in which he discussed his legal strategy and concerns about the case. The report highlighted the unusual approach of a defendant in a major securities fraud case turning to AI for assistance in structuring his defense arguments.<ref>{{cite news |last= |first= |date=2025-12-15 |title=The surprising way famed short-seller Andrew Left is prepping for his high-stakes criminal trial |url=https://www.businessinsider.com/andrew-left-short-seller-securities-fraud-legal-defense-claude-ai-2025-12 |work=Business Insider |access-date=2026-02-24}}</ref>
 
As of February 2026, the criminal case remains pending, with Left facing a trial that is expected to become a landmark proceeding in the regulation of activist short selling in the United States.


== Personal Life ==
== Personal Life ==


Left resides in the United States. Limited publicly documented information is available regarding his personal and family life. He has maintained a relatively private personal life despite his public profile as a financial commentator and short seller. Left's public persona has been defined primarily by his professional activities at Citron Research and his frequent media appearances discussing his investment theses.<ref name="bi-life" />
Left resides in the United States. Limited publicly verified information is available regarding his personal and family life. Left has maintained a relatively low personal profile outside of his professional activities, with his public presence largely centered on his work at Citron Research and his media appearances discussing financial markets.<ref name="BI2015" />


== Recognition ==
== Recognition ==


Left's career as an activist short seller has drawn both praise and criticism from participants in financial markets and the broader public. In 2017, ''The New York Times'' profiled Left under the headline "The Bounty Hunter of Wall Street," a moniker that captured both his aggressive approach to uncovering what he considered corporate fraud and the controversial nature of his methods.
Left's work as an activist short seller has attracted significant media attention and public recognition, both positive and negative. In 2017, ''The New York Times'' profiled Left under the headline "The Bounty Hunter of Wall Street," a characterization that reflected his reputation for pursuing companies he believed were engaged in fraud or were significantly overvalued.


His 2015 report on Valeant Pharmaceuticals was widely covered in the financial press. ''The Wall Street Journal'' profiled him as "The Short Who Sank Valeant Stock," crediting his Citron Research report with precipitating the dramatic decline in the company's share price.<ref name="wsj-valeant" /> ''Bloomberg News'' similarly covered the impact of Left's report on Valeant's stock and on prominent investors who held long positions in the company.<ref name="bloomberg-ackman" />
Left has been a frequent guest on CNBC, Bloomberg Television, and other financial news programs, where he has discussed his research and his views on the stocks he has investigated. His Valeant Pharmaceuticals campaign, in particular, established him as one of the most recognized activist short sellers in the United States.


Left's work has also been recognized in the context of broader discussions about the role of short sellers in financial markets. Motley Fool's CAPS platform documented instances where Citron Research's calls were vindicated by subsequent events, lending credibility to Left's investigative approach.<ref name="fool-vindicated">{{cite web |title=Citron Research Vindicated |url=http://caps.fool.com/Blogs/citron-research-vindicated/56273 |publisher=Motley Fool |access-date=2026-02-24}}</ref>
Bloomberg has featured Left's work on multiple occasions, including in connection with his research on Valeant, Mallinckrodt, and other companies.<ref>{{cite news |last= |first= |date=2013-12-05 |title=Weil on Finance: Carl Icahn's Mug |url=https://www.bloomberg.com/news/2013-12-05/weil-on-finance-carl-icahn-s-mug.html |work=Bloomberg News |access-date=2026-02-24}}</ref> The Motley Fool's CAPS community has also documented instances where Citron Research's short-selling theses were vindicated by subsequent developments at the targeted companies.<ref>{{cite web |title=Citron Research Vindicated |url=http://caps.fool.com/Blogs/citron-research-vindicated/56273 |publisher=Motley Fool CAPS |access-date=2026-02-24}}</ref>


His engagement with prominent investors has also generated media attention. ''Bloomberg'' reported in 2013 on the broader ecosystem of activist investors and short sellers in which Left operated, referencing figures such as Carl Icahn in the same financial landscape.<ref name="bloomberg-icahn">{{cite news |title=Weil on Finance: Carl Icahn's Mug |url=https://www.bloomberg.com/news/2013-12-05/weil-on-finance-carl-icahn-s-mug.html |work=Bloomberg News |date=2013-12-05 |access-date=2026-02-24}}</ref>
Left's career has also generated controversy. His ban from Hong Kong markets, his early NFA sanction, and his federal criminal indictment in 2024 have all contributed to a polarized reputation. Supporters view him as an independent watchdog who has exposed genuine corporate fraud and overvaluation, while critics have questioned his methods and the alignment of his public research with his personal trading activity.


== Legacy ==
== Legacy ==


Andrew Left's career as an activist short seller has intersected with several major episodes in American and international financial markets. His report on Valeant Pharmaceuticals contributed to one of the most significant corporate scandals of the 2010s and helped bring public attention to pharmaceutical pricing practices that became the subject of congressional hearings and regulatory scrutiny.<ref name="lat-valeant" /><ref name="fortune-timeline" />
Andrew Left's career at Citron Research has intersected with several of the most significant financial controversies of the 2010s and 2020s. His research on Valeant Pharmaceuticals contributed to the unraveling of a company that had become one of the most prominent and controversial firms in the pharmaceutical industry, and his report on Evergrande Group in 2012 preceded by nearly a decade the Chinese property developer's historic default and the broader crisis in China's real estate sector.


His Evergrande report, though it resulted in a five-year ban from the Hong Kong market, proved prescient. Evergrande later became the epicenter of a massive debt crisis in the Chinese real estate sector that had ramifications for global financial markets. The tension between Left's punitive outcome in Hong Kong and the eventual validation of his thesis raised questions about the regulatory treatment of short sellers across different jurisdictions.<ref name="mw-evergrande" /><ref name="wsj-hk-trial" />
Left's work has also contributed to ongoing debates about the role of short sellers in financial markets. Advocates of short selling argue that researchers like Left serve a critical market function by identifying overvaluation and fraud that traditional analysts, who are often conflicted by their firms' investment banking relationships, may overlook. Critics contend that activist short sellers can manipulate markets by publishing negative reports designed to drive down stock prices for their own profit.


The federal criminal charges brought against Left in 2024 have placed him at the center of an ongoing legal and regulatory debate about the boundaries of activist short selling. The outcome of his criminal case, expected to proceed to trial in 2026, may have significant implications for the practice of short-selling research and the extent to which publishing critical research reports while holding short positions constitutes market manipulation or protected financial commentary.<ref name="reuters-dismiss" /><ref name="ii-gambit" />
The federal criminal case against Left, pending as of early 2026, has the potential to establish important legal precedent regarding the boundaries between legitimate activist short selling and illegal market manipulation. The outcome of the trial is expected to be closely watched by short sellers, hedge fund managers, securities regulators, and legal scholars.<ref name="reuters2025" />


Left's use of AI tools to prepare his legal defense, as reported by ''Business Insider'', has also attracted attention as an early example of the intersection between artificial intelligence and high-stakes legal proceedings in the financial sector.<ref name="bi-ai" />
Left's use of social media and online publishing to disseminate financial research, beginning with the early days of StockLemon.com, also anticipated the broader democratization of investment research that has characterized the financial industry in the 21st century. Citron Research's model of publishing freely available, opinionated research online, rather than through traditional Wall Street channels, has been emulated by numerous other independent research operations.
 
Citron Research, over its more than two decades of operation, has published investigative reports on dozens of major companies, contributing to broader conversations about corporate governance, financial transparency, and the role of independent research in capital markets.<ref name="citron-site" />


== References ==
== References ==
Line 104: Line 109:
[[Category:1970 births]]
[[Category:1970 births]]
[[Category:Living people]]
[[Category:Living people]]
[[Category:People from Michigan]]
[[Category:Northeastern University alumni]]
[[Category:American financial analysts]]
[[Category:American financial analysts]]
[[Category:Short sellers]]
[[Category:Short sellers]]
[[Category:Northeastern University alumni]]
[[Category:People from Michigan]]
[[Category:American writers]]
[[Category:American writers]]
[[Category:American businesspeople]]
[[Category:Activist investors]]
[[Category:Activist investors]]
<html><script type="application/ld+json">
<html><script type="application/ld+json">

Latest revision as of 07:07, 24 February 2026




Andrew Left
BornAndrew Edward Left
9 7, 1970
BirthplaceMichigan, U.S.
NationalityAmerican
OccupationFinancial analyst, financial writer, short seller
Known forActivist short selling, founder of Citron Research

Andrew Edward Left (born July 9, 1970) is an American activist short seller, financial analyst, and the founder and editor of Citron Research, an online investment research publication formerly known as StockLemon.com. Through Citron, Left has published investigative reports on publicly traded companies he alleges are overvalued, engaged in fraud, or operating under questionable business practices. His reports have targeted firms across the S&P 500 as well as several Chinese companies listed on American exchanges, and his research has at times precipitated significant declines in the share prices of his subjects. Left has been a frequent commentator on financial media outlets including CNBC and Bloomberg, where he has discussed his views on specific stocks and the practice of short selling more broadly. In 2017, The New York Times referred to him as "The Bounty Hunter of Wall Street."[1] Left's career has been marked by both notable successes—including his prescient short position in Valeant Pharmaceuticals—and significant legal challenges, including a five-year ban from trading in Hong Kong and, in 2024, federal criminal charges alleging securities fraud and market manipulation. As of early 2026, Left faces an ongoing criminal trial in the United States.[2]

Early Life

Andrew Edward Left was born on July 9, 1970, in Michigan, United States. Limited publicly documented information is available regarding his childhood and family background. Left grew up in Michigan before pursuing higher education in the northeastern United States.[3]

Education

Left attended Northeastern University in Boston, Massachusetts, where he completed his undergraduate studies. Northeastern's cooperative education program, which integrates academic instruction with professional work experience, provided Left with early exposure to the financial industry.[4]

Career

Early Career and National Futures Association Sanction

Left began his career in the financial industry in the mid-1990s. Before establishing Citron Research, Left was involved in futures trading. During this period, the National Futures Association (NFA), a self-regulatory organization for the U.S. derivatives industry, sanctioned Left. The NFA stated that Left "made false and misleading statements to cheat, defraud or deceive a customer in violation of NFA compliance rules."[5] This early regulatory action would foreshadow Left's contentious relationship with financial regulators throughout his career.

Founding of Citron Research

Left founded his online investment research publication initially under the name StockLemon.com before rebranding it as Citron Research. The publication became Left's primary vehicle for disseminating investigative reports on publicly traded companies. Operating as an independent research outlet rather than through a traditional Wall Street institution, Citron Research occupies a niche in the financial ecosystem as an activist short-selling publication. Left's model involves conducting research on companies he believes are overvalued or engaged in fraudulent practices, publishing his findings, and taking short positions that profit if the targeted company's stock price declines.[6]

Over the course of its operation, Citron Research launched 51 investigative reports against S&P 500 companies. The reports have cited a range of allegations, including pyramid schemes, ineffective products, and accounting or business fraud. Left has also targeted several Chinese companies listed on U.S. exchanges, contributing to a broader wave of scrutiny over the financial reporting practices of Chinese firms seeking access to American capital markets.[7]

Despite being sued by multiple companies in response to the reports he has published, Left has maintained that he has never lost a case in the United States.[7]

Evergrande Group Report and Hong Kong Ban

In June 2012, Citron Research published a report on Chinese property developer Evergrande Group, alleging the company was engaged in fraud. Following the publication of the report, Evergrande's stock price fell significantly.[8]

The Hong Kong Market Misconduct Tribunal, chaired by Justice Michael Hartmann, subsequently investigated Left's report. In 2016, the Tribunal banned Left from trading in Hong Kong markets for a period of five years. The Tribunal found that Left had disclosed false or misleading information in connection with the Evergrande report, thereby inducing transactions in violation of the Securities and Futures Ordinance. Left's case was notable because although his underlying thesis about Evergrande's financial condition was later vindicated—the company would eventually default on its debts in a spectacular collapse that reverberated through global financial markets—his punishment was not rescinded. The case highlighted the tension between the substance of short-seller research and the methods used to disseminate it.[9]

Valeant Pharmaceuticals

Left's most prominent and consequential research campaign was directed at Valeant Pharmaceuticals International (later renamed Bausch Health Companies). In October 2015, Citron Research published a report comparing Valeant's business practices to those of Enron, the energy company whose accounting fraud led to one of the largest corporate collapses in American history. Left alleged that Valeant's relationship with specialty pharmacy Philidor Rx Services constituted a scheme to inflate revenue figures and that the company's broader business model of acquiring other pharmaceutical firms and dramatically raising drug prices was unsustainable.[10]

The Citron report had an immediate and dramatic effect on Valeant's stock price. Billionaire hedge fund manager Bill Ackman, whose Pershing Square Capital Management held a large long position in Valeant, was among the investors who sustained significant losses as the company's shares plummeted.[11] The Financial Post reported that billions of dollars in market value were erased from Valeant's stock in the wake of the short-selling campaign and the subsequent revelations about the company's practices.[12]

The Los Angeles Times covered the widening Valeant scandal in detail, noting how the controversy extended beyond Left's initial allegations to encompass broader questions about pharmaceutical pricing, corporate governance, and the relationship between Valeant and its network of specialty pharmacies.[13] By March 2016, Left had described Valeant as "uninvestable," reinforcing his bearish thesis even as some investors speculated about a potential recovery in the stock.[14] Fortune magazine chronicled the timeline of the Valeant scandal, which became one of the defining corporate controversies of the mid-2010s.[15]

The Valeant case cemented Left's reputation as one of the most influential activist short sellers operating in the United States and demonstrated the capacity of independent research to challenge the practices of large publicly traded corporations.

Mallinckrodt Pharmaceuticals

In November 2015, shortly after the Valeant report, Left turned his attention to Mallinckrodt Pharmaceuticals, another company engaged in practices Left found questionable. Citron Research used its social media presence to draw attention to Mallinckrodt's H.P. Acthar Gel, a drug priced at approximately $35,000, placing the company's pricing practices back in the spotlight. Bloomberg reported on how a single tweet from Left's Citron Research account was sufficient to refocus public and investor attention on the pharmaceutical pricing controversy.[16]

Legal Battles With Target Companies

Throughout his career, Left has been the subject of numerous lawsuits filed by companies targeted in Citron Research reports. These cases have tested the boundaries of free speech, securities regulation, and the rights of short sellers to publicly criticize publicly traded companies.

One notable case involved GTX Global Corp., which sued Left in response to critical research published by Citron. The case was documented by the Digital Media Law Project as an example of the legal risks faced by activist short sellers.[17] Another case involved litigation arising from Left's reporting on companies involved in disaster rebuilding, as reported by The Times-Picayune of New Orleans.[18]

Additional litigation involving Left has been documented in internet law case archives, reflecting the recurring pattern of companies attempting to use the legal system to silence critical research from short sellers.[19]

Left has consistently maintained that he has never lost a lawsuit in the United States related to his research publications.

Federal Criminal Charges (2024–present)

In July 2024, federal prosecutors arrested and charged Left with multiple civil and criminal charges. The indictment alleged that Left had illegally manipulated the stock market by publishing research reports through Citron Research and then trading against the positions he had publicly recommended to investors. The charges represented a significant escalation of regulatory action against Left and raised broader questions about the legal boundaries of activist short selling.[20]

Left's legal team filed motions to dismiss the criminal case, arguing that the government's charges were based on conduct that fell within the bounds of lawful market commentary and trading activity. In December 2025, a federal judge rejected Left's bid to dismiss the case, ruling that the prosecution could proceed to trial.[20]

In November 2025, Institutional Investor reported that Left had petitioned the Securities and Exchange Commission (SEC) to define what constitutes illegal "scalping"—the practice of publicly recommending a stock position while privately trading in the opposite direction. Left's petition sought formal regulatory guidance that he argued would clarify the ambiguity surrounding the legality of his trading practices and potentially undermine the government's case against him.[21]

In December 2025, Business Insider reported that Left had been using the artificial intelligence chatbot Claude to prepare for his upcoming criminal trial. The publication reviewed Left's conversations with the AI system, in which he discussed his legal strategy and concerns about the case. The report highlighted the unusual approach of a defendant in a major securities fraud case turning to AI for assistance in structuring his defense arguments.[22]

As of February 2026, the criminal case remains pending, with Left facing a trial that is expected to become a landmark proceeding in the regulation of activist short selling in the United States.

Personal Life

Left resides in the United States. Limited publicly verified information is available regarding his personal and family life. Left has maintained a relatively low personal profile outside of his professional activities, with his public presence largely centered on his work at Citron Research and his media appearances discussing financial markets.[7]

Recognition

Left's work as an activist short seller has attracted significant media attention and public recognition, both positive and negative. In 2017, The New York Times profiled Left under the headline "The Bounty Hunter of Wall Street," a characterization that reflected his reputation for pursuing companies he believed were engaged in fraud or were significantly overvalued.

Left has been a frequent guest on CNBC, Bloomberg Television, and other financial news programs, where he has discussed his research and his views on the stocks he has investigated. His Valeant Pharmaceuticals campaign, in particular, established him as one of the most recognized activist short sellers in the United States.

Bloomberg has featured Left's work on multiple occasions, including in connection with his research on Valeant, Mallinckrodt, and other companies.[23] The Motley Fool's CAPS community has also documented instances where Citron Research's short-selling theses were vindicated by subsequent developments at the targeted companies.[24]

Left's career has also generated controversy. His ban from Hong Kong markets, his early NFA sanction, and his federal criminal indictment in 2024 have all contributed to a polarized reputation. Supporters view him as an independent watchdog who has exposed genuine corporate fraud and overvaluation, while critics have questioned his methods and the alignment of his public research with his personal trading activity.

Legacy

Andrew Left's career at Citron Research has intersected with several of the most significant financial controversies of the 2010s and 2020s. His research on Valeant Pharmaceuticals contributed to the unraveling of a company that had become one of the most prominent and controversial firms in the pharmaceutical industry, and his report on Evergrande Group in 2012 preceded by nearly a decade the Chinese property developer's historic default and the broader crisis in China's real estate sector.

Left's work has also contributed to ongoing debates about the role of short sellers in financial markets. Advocates of short selling argue that researchers like Left serve a critical market function by identifying overvaluation and fraud that traditional analysts, who are often conflicted by their firms' investment banking relationships, may overlook. Critics contend that activist short sellers can manipulate markets by publishing negative reports designed to drive down stock prices for their own profit.

The federal criminal case against Left, pending as of early 2026, has the potential to establish important legal precedent regarding the boundaries between legitimate activist short selling and illegal market manipulation. The outcome of the trial is expected to be closely watched by short sellers, hedge fund managers, securities regulators, and legal scholars.[20]

Left's use of social media and online publishing to disseminate financial research, beginning with the early days of StockLemon.com, also anticipated the broader democratization of investment research that has characterized the financial industry in the 21st century. Citron Research's model of publishing freely available, opinionated research online, rather than through traditional Wall Street channels, has been emulated by numerous other independent research operations.

References

  1. ↑ "Citron Research".Citron Research.http://citronresearch.com/.Retrieved 2026-02-24.
  2. ↑ "Prominent short seller Andrew Left fails to end US criminal fraud case".Reuters.2025-12-30.https://www.reuters.com/legal/government/prominent-short-seller-andrew-left-fails-end-us-criminal-fraud-case-2025-12-30/.Retrieved 2026-02-24.
  3. ↑ "Andrew Left — Citron Research".Business Insider.2012-02.http://www.businessinsider.com/citrons-andrew-left-on-life-as-a-short-seller-2012-2.Retrieved 2026-02-24.
  4. ↑ "Andrew Left — Citron Research".Business Insider.2015-11.http://www.businessinsider.com/andrew-left-citron-research-2015-11.Retrieved 2026-02-24.
  5. ↑ "SEC Info".SEC Info.http://www.secinfo.com/duTqj.4f89h.htm.Retrieved 2026-02-24.
  6. ↑ "Citron Research".Citron Research.http://citronresearch.com/.Retrieved 2026-02-24.
  7. ↑ 7.0 7.1 7.2 "Andrew Left and Citron Research".Business Insider.2015-11.http://www.businessinsider.com/andrew-left-citron-research-2015-11.Retrieved 2026-02-24.
  8. ↑ "Evergrande stock tumbles on fraud accusation".MarketWatch.2012-06-21.http://www.marketwatch.com/story/evergrande-stock-tumbles-on-fraud-accusation-2012-06-21.Retrieved 2026-02-24.
  9. ↑ "The Short Who Got Valeant Right Is on Trial in Hong Kong".The Wall Street Journal.2016-03-16.https://www.wsj.com/articles/the-short-who-got-valeant-right-is-on-trial-in-hong-kong-1458065388.Retrieved 2026-02-24.
  10. ↑ "The Short Who Sank Valeant Stock".The Wall Street Journal.2015-10-22.https://www.wsj.com/articles/the-short-who-sank-valeant-stock-1445557157.Retrieved 2026-02-24.
  11. ↑ "Ackman Feeling Shortseller's Sting as Citron Sinks Valeant Stock".Bloomberg News.2015-10-21.https://www.bloomberg.com/news/articles/2015-10-21/ackman-feeling-shortseller-s-sting-as-citron-sinks-valeant-stock.Retrieved 2026-02-24.
  12. ↑ "Bill Ackman among investors feeling Valeant Pharmaceutical Inc's pain with billions erased in stock fall".Financial Post.http://business.financialpost.com/investing/market-moves/bill-ackman-among-investors-feeling-valeant-pharmaceutical-incs-pain-with-billions-erased-in-stock-fall.Retrieved 2026-02-24.
  13. ↑ "Valeant scandal".Los Angeles Times.2015-11-03.http://www.latimes.com/business/hiltzik/la-fi-mh-valeant-scandal-20151103-column.html.Retrieved 2026-02-24.
  14. ↑ "Short seller says Valeant is 'uninvestable'".Business Insider.2016-03.http://www.businessinsider.com/short-seller-says-valeant-is-uninvestable-2016-3.Retrieved 2026-02-24.
  15. ↑ "Valeant Timeline Scandal".Fortune.2016-03-20.http://fortune.com/2016/03/20/valeant-timeline-scandal/.Retrieved 2026-02-24.
  16. ↑ "With Citron Tweet, Mallinckrodt's $35,000 Drug Back in Spotlight".Bloomberg News.2015-11-09.https://www.bloomberg.com/news/articles/2015-11-09/with-citron-tweet-mallinckrodt-s-35-000-drug-back-in-spotlight.Retrieved 2026-02-24.
  17. ↑ "GTX Global Corp. v. Left".Digital Media Law Project.http://www.dmlp.org/threats/gtx-global-corp-v-left.Retrieved 2026-02-24.
  18. ↑ "Disaster rebuilder faces storm".The Times-Picayune.2008-01.http://www.nola.com/news/index.ssf/2008/01/disaster_rebuilder_faces_storm.html.Retrieved 2026-02-24.
  19. ↑ "Internet Library of Law and Court Decisions — Case 486".Internet Library of Law and Court Decisions.http://www.internetlibrary.com/cases/lib_case486.cfm.Retrieved 2026-02-24.
  20. ↑ 20.0 20.1 20.2 "Prominent short seller Andrew Left fails to end US criminal fraud case".Reuters.2025-12-30.https://www.reuters.com/legal/government/prominent-short-seller-andrew-left-fails-end-us-criminal-fraud-case-2025-12-30/.Retrieved 2026-02-24.
  21. ↑ "Will Short Seller Andrew Left's Latest Gambit to Prove His Innocence Work?".Institutional Investor.2025-11-07.https://www.institutionalinvestor.com/article/will-short-seller-andrew-lefts-latest-gambit-prove-his-innocence-work.Retrieved 2026-02-24.
  22. ↑ "The surprising way famed short-seller Andrew Left is prepping for his high-stakes criminal trial".Business Insider.2025-12-15.https://www.businessinsider.com/andrew-left-short-seller-securities-fraud-legal-defense-claude-ai-2025-12.Retrieved 2026-02-24.
  23. ↑ "Weil on Finance: Carl Icahn's Mug".Bloomberg News.2013-12-05.https://www.bloomberg.com/news/2013-12-05/weil-on-finance-carl-icahn-s-mug.html.Retrieved 2026-02-24.
  24. ↑ "Citron Research Vindicated".Motley Fool CAPS.http://caps.fool.com/Blogs/citron-research-vindicated/56273.Retrieved 2026-02-24.

Retrieved from "https://biography.wiki/index.php?title=Andrew_Left&oldid=949"