“Not only was the jury unconvinced by the SEC's showing with regard to misstatements, the jury outright rejected the SEC's fraudulent scheme charge; the jury also found the SEC failed to prove a negligent, reckless, or intentional violation of the Investment Advisors Act by either Lemelson or LCM…The Commission brought the widest array of potential claims against Lemelson and his company, and his decision to fight the charges paid off… He also succeeded in protecting his advisory business and the fund it managed from any liability whatsoever.”
Read the full Reuters article here
About Lemelson Capital Management
Lemelson Capital Management, LLC (LCM) is a private investment management firm focused on deep value and special situation investments. The SEC has called the firm's CIO, Rev. Fr. Emmanuel Lemelson, “a top hedge fund manager with top results in the world.” In the first eleven months of 2023, Lemelson Capital, which is closed to new investors, returned over 367 percent (net).
For more information, visit: https://www.lemelsoncapital.com or follow on X @LemelsonCapital
About Rev. Fr. Emmanuel Lemelson:
Barron’s has called Fr. Emmanuel Lemelson an “outspoken” short seller who “wouldn’t settle.” He is the Chief Investment Officer of LCM; follow his work at www.amvona.com or on X @Lemelson
No comments yet. Be the first to share your thoughts!