Jury Hears Closing Arguments in Andrew Left Securities Fraud Trial

Closing arguments concluded Thursday in the federal securities fraud trial of short-seller Andrew Left in Los Angeles. The jury will begin deliberations on Friday. S. " The government alleges Left made more than $20 million by building positions in stocks, publishing reports with target prices, and then trading at different prices.

Prosecutors displayed messages including one in which Left wrote, "We can destroy CRON," about the company Cronos. They argued Left misled hedge funds, the media, the SEC, and investors.

Defense attorney Eric Rosen countered that the government cherry-picked 19 tweets and ignored broader trading data. Rosen said most of Left's rapid exits from positions occurred without any tweet or report. Rosen noted that Cronos CEO Mike Gorenstein, who testified for the government, could not identify false statements in Left's reports.

Retail investors who testified said they did not trade based on Left's tweets. "The government wants you to convict a trader for trading like a trader," Rosen told the jury.