October 19, 2016 / 9:46 AM / a year ago

Hong Kong tribunal bans Citron's Left for 5 years

HONG KONG, Oct 19 (Reuters) - A Hong Kong tribunal banned Andrew Left, founder of U.S.-based short-seller Citron Research, for five years from the Hong Kong market after it found him guilty of market misconduct in connection with the publication of a research report in 2012.

In a ruling on Wednesday, the court also ordered Left to repay HK$1.6 million ($206,249) of profits made while shorting Hong Kong-listed Chinese property developer China Evergrande Group.

The ruling by Hong Kong’s Market Misconduct Tribunal (MMT) followed an August verdict that said that Citron engaged in market manipulation by spreading false or misleading information.

$1 = 7.7576 Hong Kong dollars Reporting by Michelle Price; Editing by Lisa Jucca

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