IGC Pharma weighs civil claims after Andrew Left securities fraud conviction tied to 2018 short campaign

The SEC order said Anson entities paid $2.25 million in penalties, and that trading around an IGC tweet generated about $500,000 in profit.

IGC Pharma is reviewing potential civil claims tied to the 2018 short campaign highlighted in the federal jury verdict in United States v. Andrew Left.

The company said it is assessing possible damages tied to alleged market-value harm, reputational impact, operational disruption, and legal and regulatory costs.

Andrew Left was convicted of one count of securities fraud scheme and 12 securities fraud counts; IGC was cited as a targeted issuer.

The indictment alleged trading generated more than $3.8 million in profit for a hedge fund and more than $1.1 million for Left.