SEC charges that hedge fund manager (and priest) relied on false claims to promote a Ligand short attack
In an interview with the Wall Street Journal three years ago, Rev. Emmanuel Lemelson boasted that his tiny hedge fund beat out most others on overall performance because of his uncanny ability to know things about stocks “before they happened.”
“I guess it’s just a gift from God,” he told the Journal.
According to the SEC, God also got a big assist from the priest’s willingness to spread false claims on social media when needed. And that turned out to be a very big problem for Ligand Pharmaceuticals.
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