Kate Zoladz, director of the U.S. Securities and Exchange Commission’s Los Angeles Regional Office, alleged in a release that the Florida-based head of Citron Capital engaged in “bait-and-switch” tactics by taking advantage of stock price movements caused by his recommendations to make short-term profits. (The Logic)

Talking point: The charges mark a fall from grace for Left, a fixture on financial news and social media. Left used those platforms to amplify his messages and influence others to buy and sell stocks, causing price movements he could profit from, the indictment alleges. Left’s Canadian targets have included Shopify and Quebec-based Valeant Pharmaceuticals, now Bausch Health. In the case of Valeant, Left’s criticisms stood up to scrutiny—a federal jury convicted an executive of a kickback scheme. The SEC is seeking monetary penalties and a bar on Left serving as an officer or director of companies, among other redress.