Day-Trading Grandpa Denied High Court Look at Short-Swing Harm

A Microbot Medical Inc. investor won’t be able to take his defense against short-swing trading claims to the US Supreme Court, according to an order Monday.

Octogenarian day trader Joseph Mona sought review of a US Court of Appeals for the Second Circuit decision that affirmed judgment in favor of Microbot and a disgorgement award of more than $480,000. Mona argued that the pre-clinical medical device company lacked standing to sue him because it didn’t suffer—or even allege—an actual injury.

At issue are the implications of of a 2021 Supreme Court case, TransUnion LLC v. Ramirez, on standing requirements. …