Citron Research founder Andrew Left has been convicted of securities fraud and faces more than 20 years in prison.

CoinFeed reported on June 2nd that, according to Bloomberg, Andrew Left, founder of the well-known short-selling firm Citron Research, was convicted of manipulating stock prices using dishonest social media posts. After a three-week trial in Los Angeles, a jury found Left guilty on 13 of 17 charges, including one count of securities fraud. Prosecutors accused Left of illegally influencing stock prices and quickly profiting over $20 million between 2018 and 2023 using explosive tweets about dozens of companies. Left stated in court that he would appeal, calling the verdict an attack on free speech and innocent trading. He faces more than 20 years in prison and will be sentenced on August 31st. The case has been closely watched by the short-selling industry, with a Yale University professor stating that the verdict will have a chilling effect on short sellers.