To read the history click here
"Ligand is only one market correction away from collapse which will leave investors and employees defenseless. Regulatory watchdogs have been asleep at the gate failing once again to detect and prosecute fraud and abuse,"
Fr. Emmanuel Lemelson's July 13, 2018 letter to Congress
On October 15, 2018, global financial media outlet Barron’s reported that the SEC had charged Fr. Emmanuel Lemelson, “accusing him of making false statements,” about Ligand Pharmaceuticals and making $1.3 million in profits by "driving down and betting against," the stock of the company. According to Barron’s, Lemelson condemned the SEC case as ”an effort to destroy the reputation of a whistle-blower.”
In the ensuing ten months, shares of Ligand Pharmaceuticals (NASDAQ: LGND) plummeted as much as 70 percent, recently reaching a new 4-year low and destroying billions of dollars in shareholder value.
Lemelson Capital Management recently published a reliably-sourced, abridged history of Fr. Emmanuel's work as an activist investor, including his battle with US regulators over his Ligand short. To learn more click here.
Disclosure: Lemelson Capital Management is short shares of Ligand Pharmaceutical (NASDAQ: LGND) and Viking Therapeutics (NASDAQ: VKTX).
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