Rev. Fr. Emmanuel Lemelson Renews Call for Investigation in Alleged Accounting and Securities Fraud, SEC Failures, at Ligand Pharmaceuticals
Failure to prosecute Alleged Multi-Year Accounting and Securities Fraud at Ligand Pharmaceuticals (NASDAQ: LGND) Diminishes SEC Credibility, Warrants Investigation
MARLBOROUGH, Mass., Jan. 16, 2019 /PRNewswire/ -- Rev. Fr. Emmanuel Lemelson, the CIO of Lemelson Capital Management, LLC, a U.S.-based global Investment management firm, today renewed calls for an investigation in Ligand Pharmaceuticals (NASDAQ: LGND), a U.S.-based publicly-traded pharmaceutical company.
Beginning in 2014, Lemelson published 5 research reports, issued 16 articles/press releases, posted 66 tweets, gave 13 interviews, and wrote two letters to Congress, making nearly 1,000 distinct allegations related to accounting and securities fraud perpetrated by the company.
To read Lemelson research reports and letters to congress as well as listen to his interviews on the alleged Ligand Fraud click https://amvona.com/featured/finding-alpha/item/43530-ligand-pharmaceuticals-nasdaq-lgnd-stock-crashes
Shares of Ligand Pharmaceuticals (NASDAQ: LGND) crashed as much as 25 percent (intraday) today, January 16, 2019, falling as much as 63 percent since September 30, 2018, and hitting a new 52-week low, destroying billions of dollars in shareholder value.
In July 2018 Lemelson released a letter he has provided members of The U.S. House Committee on Oversight and Government Reform, U.S. House of Representatives Financial Services Committee, The U.S. Senate Committee on Banking, Housing, & Urban Affairs, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, outlining extensive alleged accounting, and securities fraud and abuse of federal and state healthcare laws by Ligand Pharmaceuticals (NASDAQ: LGND), a U.S.-based publicly-traded pharmaceutical company. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commissions (SEC) failure to stop them despite being provided abundant evidence of the alleged fraud spanning multiple years – failures he likens to the Commission's botched Enron and Madoff investigations that allowed these frauds to cost investors and the American taxpayers dearly.
The July 2018 letter to Congress, is available online here: https://www.scribd.com/document/383785855/Rev-Fr-Emmanuel-Lemelson-Calls-on-Congress-Office-of-Inspector-General-to-Investigate-SEC-Failures
A copy of Fr. Emmanuel's December 2016 letter to the U.S. Senate Special Committee on Aging, is available online here:
About Rev. Fr. Emmanuel Lemelson:
Rev. Fr. Emmanuel Lemelson is the Chief Investment Officer of Lemelson Capital Management, LLC a Massachusetts based Global Investment Management firm.
For more information, see: https://www.lemelsoncapital.com/
For further information, please contact:
Lemelson Capital Management, LLC
Investor and Media Relations
Telephone: 508-630-2281
SOURCE Lemelson Capital Management, LLC
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