SEC Sues 3 for Insider Trading Over Long Island Tea’s “Blockchain” Rebranding During 2017 Bull Run

2021-7-12 16:24

The US Securities and Exchange Commission (SEC) has sued three individuals involved in the inside trading of Long Island Tea Corp., which enjoyed a surge in its stock prices after it rebranded to Long Blockchain Corp. during the 2017 bull market.

According to a statement released by the SEC, Eric Watson, an “undisclosed control person” of the company, drove this name change of the business and tipped off his friend and broker, Oliver Barret-Lindsay, about the “pivot” that was going to happen from its existing beverage business to blockchain technology, causing the company’s stock price to soar.

Barret-Lindsay then told his pal, Gannon Giguiere, who made more than $160k in illegal profits, the SEC said.

Long Blockchain share prices soared more than 380% in December 2017 after the company issued a press release announcing its new name. Richard R. Best, head of the SEC’s New York office in the statement said,

“The SEC remains committed to preventing all types of fraudulent conduct in connection with purported ‘crypto’ companies, including profiting from trading on material non-public information.”

Long Blockchain was one of the micro-cap companies that capitalized on the 2017 crypto bull run by announcing crypto-focused new business ventures. Its stock was delisted by the SEC in February.

The post SEC Sues 3 for Insider Trading Over Long Island Tea’s “Blockchain” Rebranding During 2017 Bull Run first appeared on BitcoinExchangeGuide.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

3X Long Bitcoin Token (BULL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 5871.3 (-100%)

long blockchain corp tea island sec trading

Источник: bitcoinexchangeguide.com

long blockchain → Результатов: 126


SEC предъявила обвинения в инсайдерской торговле акциями Long Blockchain

Комиссия по ценным бумагам и биржам США (SEC) обвинила трех человек в инсайдерской торговле перед объявлением компанией Long Blockchain (ранее Long Island Iced Tea) перехода от существующего бизнеса по продаже напитков к блокчейну, что вызвало резкий рост акций.

2021-7-13 13:41


SEC предъявила обвинения по инсайдерской торговле акциями Long Blockchain

Комиссия по ценным бумагам и биржам США (SEC) обвинила трех человек в инсайдерской торговле перед объявлением компанией Long Blockchain (ранее — Long Island Iced Tea) перехода от существующего бизнеса по продаже напитков к блокчейну, что вызвало резкий рост акций.

2021-7-11 13:41


ImmVRse Exhibit Groundbreaking Platform At Blockchain Summit in London

ImmVRse has distinguished itself in the blockchain sphere through a string of watershed moments and milestone accomplishments, including a recently concluded private sale. However, it was the event which took place in Olympia London  from 26th and 27th June that left a long lasting impression on the crypto community, making waves long afterwards. Disclosure: This […]

2018-7-10 17:30


Professor Whitfield Diffie on the Challenges of Securing Data on the Blockchain

Blockchain technology has come a long way since it was introduced as the underlying technology driving Bitcoin. As the field continues to advance, modern blockchains such as Ethereum, EOS, NEO, Cardano and others are becoming software platforms where startups can build entire products and utilize decentralized features inside their own applications. Today, blockchain technology is […]

2018-7-10 16:00


Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin

Austin-based cryptocurrency hedge fund Multicoin Capital is long Ethereum as well as EOS while short both Litecoin and Ripple’s XRP. Backed by Andreessen Horowitz’s Marc Andreessen and Union Square Venture’s Chris Dixon among others, the $75 million fund is defending its most significant position: EOS, a currency that raised $4 billion through an ICO last month […] Hedge Fund Bullish on EOS and Ethereum, Bearish on Ripple and Litecoin was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-3 01:24


Unblockable Blockchain First to Bring Crypto Collectibles to Sports Fans

The sports and entertainment collectibles market will now enjoy the flexibility and security of the blockchain technology, thanks to Unblockable. Industry watchers say the Unblockable platform is a game changer as the world's first company to bring blockchain technology to the sports and entertainment collectibles market. The new technology will allow fans, who have long […]

2018-6-30 19:20


Фото:

Jason Attar Takes Cryptocurrency to the Big Screen in New Mockumentary

Award-winning comedian, actor, writer and director Jason Attar is once again heading for the big screen with his new project KevCoin: The Movie. A follow-up to his previous film One Night in Powder, Attar will don the guise of his infamous character Kevin Powder — a rock star “fixer” who’s constantly trying to reinvent himself through wild schemes — and take on the world of digital finance as he seeks out fame and riches.

2018-6-11 22:31

дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

South Korean Exchange Suspends Withdrawals to External Wallets, Govt. Reaches Out to Apple and Google to Block P2E Apps

One of the four regulated cryptocurrency exchanges in South Korea, Coinone, has announced that it will no longer allow withdrawals to non-verified external wallets starting Jan. 24, 2022. If Coinone users want to withdraw their crypto assets to another digital wallet, they would have to register their wallet address with the exchange, “in accordance with […] The post South Korean Exchange Suspends Withdrawals to External Wallets, Govt.

Bitcoiner Senator, Cynthia Lummis, Is Planning to Bring In A New Crypto Bill Next Year

Wyoming Republican Senator Cynthia Lummis plans to introduce a comprehensive bill next year covering tax taxation of digital assets and their categorization to consumer protections. Lummis, who is also a Bitcoiner and one of the most vocal crypto advocates, will also be pitching Congress on creating a crypto regulatory body under the joint jurisdiction of […] The post Bitcoiner Senator, Cynthia Lummis, Is Planning to Bring In A New Crypto Bill Next Year first appeared on BitcoinExchangeGuide.

Bank of England to Coordinate with International Regulators for Stricter Crypto Rules

The Bank of England to step up its talks with the international counterparts on a regulatory regime for cryptocurrency next year. In an interview with The Times, Sarah Breeden, executive director for financial strategy and risk at the central bank, said that as banks begin to offer crypto-assets trading and custody services to clients, global […] The post Bank of England to Coordinate with International Regulators for Stricter Crypto Rules first appeared on BitcoinExchangeGuide.

Paraguayan Senate Passes Bill to Regulate Crypto Trading and Mining

The Senate of Paraguay has passed a bill that will regulate the trading and mining of cryptocurrencies in the country. Paraguayan Senator Fernando Silva Facetti, one of the three authors of the bill, confirmed this on Twitter, saying Paraguay’s Chamber of Deputies will discuss the bill next year.