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Securities and Exchange Commission v. Lemelson et al

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Case Number:

1:18-cv-11926

Court:

Massachusetts

Nature of Suit:

Securities/Commodities

Judge:

Patti B. Saris

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  1. November 05, 2021

    Hedge Fund Priest Beats SEC Short-And-Distort Claims

    A Boston federal jury on Friday absolved a Greek Orthodox priest of some fraud claims in a U.S. Securities and Exchange Commission suit alleging he launched a short-and-distort scheme through his hedge fund aimed at tanking a biotech company's stock price.

  2. November 03, 2021

    Priest Points Finger At Biotech As SEC Short Sale Trial Wraps

    A Greek Orthodox priest tried to turn the tables on the U.S. Securities and Exchange Commission during closing arguments Wednesday in his short-selling fraud trial, telling a Boston jury that the government's case was built on a biotech's campaign to silence his hedge fund's broadsides targeting the company.

  3. November 01, 2021

    Priest Urged Investors To 'Run' From Pharma Biz, Jury Hears

    A Greek Orthodox priest tried to spark investor panic about Ligand Pharmaceuticals Inc. by telling shareholders to "run, Bambi, run" from the drug company while his hedge fund held a large short position on the stock, a Boston federal jury heard Monday.

  4. October 29, 2021

    'Bully' Priest Engineered Biotech Stock Drop, Jury Told

    A Greek Orthodox priest acted like a "bully" by repeatedly pushing false claims about a California biotech that drove down its stock price, the company's CEO told a Boston jury Friday in the U.S. Securities and Exchange Commission's suit.

  5. December 17, 2020

    Priest Seems Destined For Trial In SEC Short-Selling Suit

    A Greek Orthodox priest facing a short-selling suit by the U.S. Securities and Exchange Commission appears headed for trial after a Massachusetts federal judge on Thursday pushed back on his claim that he can't be liable because the stock price in question didn't drop.

  6. October 01, 2020

    Mass. Priest Targeted By SEC Says Trades Were By The Book

    A Massachusetts priest on Wednesday asked a federal judge to absolve him of claims by the U.S. Securities and Exchange Commission that he raked in $1.3 million by driving down the price of a pharmaceutical stock and then betting the other way.

  7. March 18, 2020

    LibbyHoopes Atty's Threat To Priest In SEC Case Irks Judge

    A Massachusetts federal judge on Wednesday admonished a LibbyHoopes PC attorney for the "hardball tactic" of threatening to sue a Greek Orthodox priest unless he recanted statements made to the U.S. Securities and Exchange Commission in its fraud investigation of his client, a fellow clergy member.

  8. March 09, 2020

    SEC Says Priest In Fraud Case Threatened Potential Witness

    The U.S. Securities and Exchange Commission has accused a priest facing stock fraud charges of attempting to influence the testimony of a potential witness by threatening to sue him unless he recanted earlier statements to the agency and paid $10,000, according to a court filing.

  9. February 20, 2020

    Leak Triggers Call For Sanctions In Priest's Short-Selling Suit

    Ligand Pharmaceuticals joined the U.S. Securities and Exchange Commission's call Wednesday to sanction a Greek Orthodox priest facing a short-selling suit for trying to "poison the well" with selective leaks to a Barron's reporter of confidential documents.

  10. December 06, 2018

    Mass. Priest Can't Escape SEC's Short-Selling Suit

    A Greek Orthodox priest who is also a hedge fund manager lost his bid to duck a U.S. Securities and Exchange Commission short-selling suit after a Massachusetts federal judge said from the bench Thursday that she will keep at least one of the counts against him alive.

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