Reuters
Left's lawyer, James Spertus, in a court filing argued that the SEC's case "fails to state a claim because it neither alleges a cognizable theory of fraud nor alleges sufficient facts to support the theory alleged". The securities regulator and the U.S. Justice Department in July accused Left of manipulating the market and defrauding investors with misleading claims about his positions in multiple stocks, including Nvidia and Tesla. The federal authorities have said that Left used his social media platform and cable news appearances to promote what he said were his long or short trades, only to quickly reverse his positions, making as much as $20 million in the process.