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Home » Hedge fund adviser loses First Amendment appeal
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Hedge fund adviser loses First Amendment appeal

Jan. 5, 2023
By Mari Serebrov
Upholding a 2021 jury verdict against a hedge fund adviser accused of making fraudulent statements to drive down Ligand Pharmaceuticals Inc.’s stock price, the U.S. Court of Appeals for the First Circuit shot down Gregory Lemelson’s arguments that his statements related to the company and its lead drug, Promacta (eltrombopag), were opinions protected by the First Amendment and that they were not material.
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