Mass. Priest Wants Out Of SEC's $1.3M Short-Selling Suit

Law360, Boston (October 26, 2018, 8:32 PM EDT) -- A Greek Orthodox priest who also serves as a social commentator and hedge fund manager asked a Massachusetts federal judge Thursday to toss a U.S. Securities and Exchange Commission suit claiming he raked in $1.3 million by driving down and betting against Ligand Pharmaceuticals Inc. stock.

The Rev. Emmanuel Lemelson, who is called by his birth name, Gregory Lemelson, in the September SEC complaint, said in a motion to dismiss the suit that he was always “open and transparent” about his opinions and views related to Ligand stock. His alleged lies were actually true, he argued, or simply opinions that are...

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