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Fr Emmanuel Lemelson Comments on Jury Verdict

Fr. Emmanuel Lemelson Comments on Jury Verdict

Jury Verdict Finds Fr. Emmanuel "Not Liable" For Key Allegations

Shelburne, Vermont, November 5, 2021 —The Rev. Emmanuel Lemelson, CIO of Lemelson Capital Management, commented on the jury verdict which found the firm and its CIO "Not Liable" for The Securities and Exchange Commissions (SEC) allegations of a scheme to defraud, violations of the Investment Advisors Act of 1940 or commentary regarding Ligand Pharmaceuticals (NASDAQ: LGND) insolvency.  However, the jury did find Fr. Lemelson liable for some of the remaining challenged statements, including two comments made about a different company, Viking Therapeutics (NASDAQ: VKTX), which Lemelson did not trade in.  

Addressing the ruling, Lemelson commented; 

"We would like to thank the jury for their service, and verdict of "Not Liable" for the key allegations contained in the complaint.  After seven years, we chose to go to trial on these unprecedented charges," Lemelson said. "We intend to appeal the remaining adverse parts of the verdict," Lemelson added

____________________________________

The case is: SEC v. Lemelson et. al.  [docket number 1:18-cv-11926]

About Lemelson Capital Management

Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments.  For more information, visit: https://www.lemelsoncapital.com or follow on Twitter @LemelsonCapital 

About Rev. Fr. Emmanuel Lemelson

Rev. Fr. Emmanuel Lemelson is the Chief Investment Officer of Lemelson Capital Management, LLC, follow his work at www.amvona.com or on Twitter @Lemelson

For further information, please contact:

Lemelson Capital Management, LLC
Investor and Media Relations
Telephone: 1-802-332-3833

 For more background see:

  • Motion to Dismiss here (October 25, 2018)
  • Reply Brief here (November 21, 2018) 
  • Opposition to The Securities and Exchange Commission's motion for protective order here  (January 7, 2020)
  • Affidavit of Religious Affiliation here (March 30, 2020)
  • Motion for Summary Judgement here (September 30, 2020)

On July 17, 2018, Fr. Emmanuel released a letter he provided members of The U.S. House Committee on Oversight and Government Reform, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, further outlining extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commission’s (SEC) failure to stop them.

Lemelson's full July 13, 2018 letter to Congress is available online here

His December 2016 letter to the U.S. Senate Special Committee on Aging, regarding the company, is available online here


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Lemelson Capital Management To Host Q3 2021 Investor Call On October 11

Lemelson Capital Management To Host Q3 2021 Investor Conference Call On October 11, 2021


Q3 2021 Investor Conference Call
October 11, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on Q3 2021 activities, and a Q&A session

To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.

This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host August 2021 Investor Call On September 17

Lemelson Capital Management To Host August 2021 Investor Conference Call On September 17, 2021


August 2021 Investor Conference Call
September 17, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on August 2021 activities, and a Q&A session

To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.

This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host July 2021 Investor Call On August 20

Lemelson Capital Management To Host July 2021 Investor Conference Call On August 20, 2021


July 2021 Investor Conference Call
August 20, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on July 2021 activities, and a Q&A session

To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host 1H 2021 Investor Call On July 16

Lemelson Capital Management To Host 1H 2021 Investor Conference Call On July 16, 2021


1H 2021 Investor Conference Call
July 16, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on 1H 2021 activities, and a Q&A session

To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host May 2021 Investor Call On June 15

Lemelson Capital Management To Host May 2021 Investor Conference Call On June 15, 2021


May 2021 Investor Conference Call
June 15, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on May 2021 activities, and a Q&A session

To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host April 2021 Investor Call On May 14

Lemelson Capital Management To Host April 2021 Investor Conference Call On May 14, 2021


April 2021 Investor Conference Call
May 14, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on April 2021 activities, and a Q&A session

To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host Investor Conference Call On April 15, 2021

Lemelson Capital Management To Host Q1, 2021 Investor Conference Call On April 15, 2021


Q1 2021 Investor Conference Call
April 15, 2021 - 10 A.M. EST
 
(Subject to review and approval)
 
The call will include prepared remarks by management, an update on Q1, 2021 activities, and a Q&A session

To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Lemelson Capital Management To Host Investor Conference Call On January 15, 2021

Lemelson Capital Management To Host Q4, 2020 Investor Conference Call On January 15, 2021
 


Q4 2020 Investor Conference Call
January 15, 2021 - 10 A.M. EST
 
(Subject to review and approval)

The call will include prepared remarks, an update on management's 2020 activities, and a Q&A session.
To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.


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Fr. Emmanuel Files Opposition in SEC Fight over Ligand Pharmaceuticals (NASDAQ: LGND)

To read the full Opposition click here or view on Scribd below.

"That is, the Commission promoted Ligand’s stock price in its Complaint, which was riddled with objectively false information, which dramatically overstated the financial condition of the company. Ironically, this is precisely the nature of its alleged market-manipulation claims the Commission brought against Fr. Emmanuel...

...with one [Ligand personnel] referring to some of the company’s own shareholders as “morons.”

Defendants' opposition to plaintiff's motion for partial summary judgment
October 30, 2020

Fig. 1 - Ligand Insider Sells

Insider share sales

 For more background see:

  • Motion to Dismiss here (October 25, 2018)
  • Reply Brief here (November 21, 2018) 
  • Opposition to The Securities and Exchange Commission's motion for protective order here  (January 7, 2020)
  • Affidavit of Religious Affiliation here (March 30, 2020)
  • Motion for Summary Judgement here (September 30, 2020)

Fr. Emmanuel Lemelson Files Opposition in SEC Fight over Ligand Pharmaceuticals (NASDAQ: LGND) by amvona on Scribd

On July 17, 2018, Fr. Emmanuel released a letter he provided members of The U.S. House Committee on Oversight and Government Reform, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, further outlining extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commission’s (SEC) failure to stop them.

Lemelson's full July 13, 2018 letter to Congress is available online here

His December 2016 letter to the U.S. Senate Special Committee on Aging, regarding the company, is available online here


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Fr. Emmanuel Files Motion For Summary Judgment in SEC Fight

To read the full Motion For Summary Judgment click here or view on Scribd below with the statement of facts and exhibits.

To say this enforcement action is unprecedented is a gross understatement. Indeed, the Commission’s case, taken after years of lobbying by Ligand and its counsel, is not only frivolous but if not disposed of on summary judgment, it will have a dangerously chilling impact given its brazen attack on the First Amendment"

Motion For Summary Judgment
September 30, 2020

 For more background see:

  • Motion to Dismiss here (October 25, 2018)
  • Reply Brief here (November 21, 2018) 
  • Opposition to The Securities and Exchange Commission's motion for protective order here  (January 7, 2020)
  • Affidavit of Religious Affiliation here (March 30, 2020)
  • Motion for Summary Judgement here (September 30, 2020)

Fr. Emmanuel Files Motion for Summary Judgment in SEC Fight by amvona on Scribd

On July 17, 2018, Fr. Emmanuel released a letter he provided members of The U.S. House Committee on Oversight and Government Reform, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, further outlining extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commission’s (SEC) failure to stop them.

Lemelson's full July 13, 2018 letter to Congress is available online here

His December 2016 letter to the U.S. Senate Special Committee on Aging, regarding the company, is available online here


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Fr. Emmanuel, The SEC And A Court-Ordered Affidavit of Religious Affiliation

To read the full affidavit click here or view below on Scribd with the complete list of exhibits attached.

In March 2020 Fr. Emmanuel Lemelson was held in contempt of court.  As part of those proceeding, Lemelson was ordered to submit an affidavit of religious affiliation.  Embedded below is the complete affidavit and exhibits. 

 For more background see:

  • Motion to Dismiss here (October 25, 2018)
  • Reply Brief here (November 21, 2018) 
  • Opposition to The Securities and Exchange Commission's motion for protective order here  (January 7, 2020)
  • Affidavit of Religious Affiliation here (March 30, 2020)
  • Motion for Summary Judgement here (September 30, 2020)

Fr. Emmanuel Lemelson' court-ordered affidavit of religious affiliation by amvona on Scribd

On July 17, 2018, Fr. Emmanuel released a letter he provided members of The U.S. House Committee on Oversight and Government Reform, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, further outlining extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commission’s (SEC) failure to stop them.

Lemelson's full July 13, 2018 letter to Congress is available online here

His December 2016 letter to the U.S. Senate Special Committee on Aging, regarding the company, is available online here


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Palo Alto Networks (NYSE: PANW) Stock Nosedives, Shake Shack (NYSE: SHAK) Tumbles

AMD PANW SHAK chartShares of Palo Alto Networks Inc. (NYSE: PANW), dove more than 14 percent in after-hours trading Monday after the security-software company reported weaker sales growth than previously expected and cut its Q3 and FY20 guidance.

"Fiscal second-quarter revenue was below our expectations primarily as a result of continued impact of sales incentives related to our Next-Generation Security products from our prior fiscal year..." said Chief Executive Nikesh Arora in today's earnings release. 

The company's shares today closed down 2.33 percent at $237.33, then plunged to $203.50 in after-hours trading following the announcement.

Lemelson Capital Management (LCM) began shorting shares of Palo Alto Networks on behalf of its clients in The Amvona Fund, LP (The Fund) in late December 2019 with 95 percent of the short sales made on February 13, 2020, at an average price per share of $244.91.   Palo Alto Networks is one of The Fund's largest short positions.  

Separately, shares of Shake Shake, Inc. (NYSE: SHAK), plummeted as much as 14 percent, to under $65 per share in extended trading today after the company reported disappointing guidance of it's own. 

LCM is short shares of Shake Shake on behalf of investors in The Fund at an average price of $102.35.

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Barron's Article Explores Fr. Emmanuel's Fight With The SEC Over Ligand Pharmaceuticals (NASDAQ: LGND)

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“ 'He needs to be silenced for good,' wrote a Ligand executive to his colleagues in an August 2014 email about Lemelson,"

Barron's, February 19, 2020

On February 19, 2020, global financial media outlet, Barron's published a front-page feature that delves into whistleblower and activist Rev. Fr. Emmanuel's multi-year battle with Ligand Pharmaceuticals (NASDAQ: LGND) and explores the role that powerful DC-based law firms, corrupt politicians and regulators played in an effort to "silence" him. 

To read the full article click here or below.

 

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