Marlborough investor denies SEC investigation claim
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Emmanuel Lemelson, chief investment officer for Lemelson Capital Management
A Marlborough private investment management firm has denied claims made in an article by Bloomberg Business that the U.S. Securities & Exchange Commission is investigating the company for possible stock manipulation.
“There is not now, nor has there ever been, any SEC or other regulatory investigation targeting our firm. Nor is there a basis for one,” said Emmanuel Lemelson, chief investment officer for Lemelson Capital Management, said in a press release on Friday when the Bloomberg article was published.
The article in question reported the SEC is investigating Lemelson for allegedly making false, public statements about companies he was shorting. The article cites anonymous sources saying the inquiry was underway and explains that under the law investors cannot knowingly spread false information about a company or its management in order to make a profit.
In its response to the article, Lemelson said it is seeking immediate legal counsel against the media outlet and unnamed source.
CORRECTION: A previous version of this article incorrectly said Bloomberg cited anonymous sources within the SEC. Bloomberg, in fact, said the anonymous sources had knowledge of the matter but did not claim to be from the SEC.
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