Andrew Left conviction faces mistrial threat after jury error

Investing.com -- A jury verdict that found short seller Andrew Left guilty on 13 counts of securities fraud may be overturned after jurors used an incorrect form during deliberations in Los Angeles federal court.

The jury on Monday convicted Left on 13 of 17 securities fraud counts following two days of deliberations in the three-week trial. Prosecutors said Left ran a years-long scheme using social media posts to mislead investors about his trading intentions and manipulate stocks.

US District Judge Virginia Phillips discovered the error after reviewing the verdict form. The jury had used an outdated form that included an 18th count for lying to a federal agent, a charge that was dismissed before trial began. The jury found Left guilty on that count as well.

Phillips called Left and the legal teams to the bench and then sent jurors back to complete the correct form. The jury returned within an hour with another guilty verdict on the 13 counts.

Left's lawyer Eric Rosen immediately requested a mistrial after the jury was dismissed. Phillips said she would rule on the request later, with both sides allowed to file briefs in the coming weeks.

"That a jury would return a guilty verdict on a charge no one ever explained to it speaks for itself about the reliability of this verdict," Rosen said in a statement. "We will be asking the court to set the verdict aside, and we remain confident that Andrew Left, who told the truth, will be vindicated."

Left, 55, faces more than two decades in prison at his Aug. 31 sentencing hearing. First-time defendants often receive shorter sentences.

Timothy Belevetz, a former federal prosecutor at Ice Miller not involved in the case, said such irregularities are always taken seriously. He noted that typically the prosecution drafts the jury form and gives it to the defense for review before it goes to the jury.

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