Lemelson Capital Management, a private investment management firm, labeled a Bloomberg Business article published earlier today as "irresponsible and libelous," as the article alleges that the firm was under a probe or investigation for its trading practices. The Bloomberg article cites no source from the U.S. Securities and Exchange Commission (SEC) or other governmental or law enforcement agency, which would be responsible for such an investigation. It instead rests entirely on an unnamed, non-SEC source that would have no basis for knowledge about any such investigation even if one did exist.
Since its 2012 founding, Lemelson Capital Management has been the general partner of The Amvona Fund, a hedge fund that has been named repeatedly as one of the best performing in its investment segment. “There is not now, nor has there ever been, any SEC or other regulatory investigation targeting our firm. Nor is there a basis for one,” Lemelson Capital Management chief investment officer Emmanuel Lemelson said today. “This is hugely irresponsible and libelous reporting based on non-governmental sources almost certainly seeking to advance some agenda unaffiliated with our firm or fund,” Lemelson said.
Lemelson says the article is inaccurate and defamatory and that Lemelson Capital Management is seeking immediate legal counsel on recourse and remedy against both the media outlet and the unnamed source, which is the singular cited source for the erroneous allegation.
Disclosure: Lemelson Capital is currently short shares of LGND and SKX for its clients.