Douglas Leighton

Douglas Leighton is a prominent figure in the investment and cannabis industries, but his career has been marred by legal troubles. Here's an overview of Douglas Leighton's professional background and recent legal issues:

Professional Background

Douglas Leighton is the founder and principal partner of Altar Rock Capital, formerly known as Dutchess Capital.3 As an experienced investor, he has managed an investment portfolio of over $2 billion throughout his career.3 Leighton is based in Boston, Massachusetts.4

Investment Focus

Leighton has been an early investor in the cannabis industry, playing a significant role in taking companies like MassRoots and American Cannabis Company public.2 His expertise spans capital management and business development.6

Legal Troubles

In April 2020, the Securities and Exchange Commission (SEC) filed a lawsuit against Douglas Leighton and several associates for alleged stock price manipulation.2 The key allegations include:

1. Stock Manipulation: Leighton is accused of orchestrating a scheme to manipulate the stock price of MassRoots, a cannabis company.12

2. Investor Coordination: He allegedly directed a group of investors on when and how much MassRoots stock to buy and sell.2

3. Failure to Report: Leighton is accused of not reporting his holdings and sales of MassRoots stock as legally required.12

4. Profit Generation: The SEC claims that Leighton and his group booked profits of $3.2 million between April 2015 and March 2016 through this scheme.1

5. Collaboration with MassRoots CEO: The lawsuit alleges that Leighton received assistance from MassRoots CEO Isaac Dietrich in tracking transactions.12

The SEC is seeking permanent injunctions, disgorgement of ill-gotten gains, and civil penalties against Leighton and his co-defendants.12

It's important to note that the LinkedIn username provided in the query (michael-novielli-2947301b) does not match Douglas Leighton's name. Michael Novielli is listed as a Co-Founder and Managing Partner at Altar Rock Capital5, which appears to be a separate individual from Douglas Leighton.