It is not often that Spider-Man features in share price discussions or the activities of short-sellers. On Monday, however, the superhero made an appearance in a case before a Hong Kong tribunal.
The body is hearing accusations of market misconduct by Andrew Left, the US short-seller best known for his recent high-profile battle with Valeant, the US drugmaker.
The Hong Kong case marks one of the first times a regulator has pursued a case based on public commentary by someone who is not a licensed financial professional. Short-sellers and other commentators are watching the case closely over worries that a ruling could have a “chilling” effect on their ability to opine freely on listed stocks.
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