Federal prosecutors and securities regulators in Los Angeles announced charges Friday against prominent stock analyst Andrew Left, alleging he made millions of dollars of ill-gotten gains by making public comments to manipulate the stock prices of companies such as Nvidia, Tesla and Facebook while also investing in the companies. Left, formerly of Beverly Hills and now a Florida resident, traded on his reputation as a regular commentator on cable business news channels.
Securities and Exchange Commission on Friday announced a civil complaint against Left and his firm, saying that regulators uncovered alleged bait-and-switch tactics that netted them $20 million in illicit profits. Left, reached by phone in Boca Raton, Fla., declined to comment, saying, “I’ll wait for my lawyer to wake up.” His attorney, James Spertus of West Los Angeles, denied that Left made false statements. “He’s never once published an untrue fact,” he said.