Embattled expat businessman Eric Watson has, nearly three years after the US Securities and Exchange Commission filed claims of insider trading against him,.
An investor in the former Long Island Iced Tea Co. has urged a New York federal court to toss the U.S. Securities and Exchange Commission's suit alleging he engaged in insider trading tied to the company's pivot to blockchain technology.
Former Long Island Iced Tea Allegedly Doing Some Long Island Insider Trading dealbreaker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealbreaker.com Daily Mail and Mail on Sunday newspapers.
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The Securities and Exchange Commission has charged three people with insider trading on allegations they bought shares of a New York company before its announcement it would pivot to a surprise name change and new business model.
Eric Watson, an undisclosed control person of Long Island-based Long Blockchain, drove the business change during the 2017 crypto craze and tipped off his friend and broker, Oliver Barret-Lindsay, according to the SEC s complaint, filed in the United States District Court for the Southern District of New York on Friday, July 9.
Long Blockchain, based in the Village of Farmingdale in Nassau County, had been an iced-tea company called the Long Island Ice Tea Corp. before it was rebranded to the blockchain-based business model amid the bitcoin frenzy.
Read / Add Comments
The Securities and Exchange Commission has charged three people with insider trading on allegations they bought shares of a New York company before its announcement it would pivot to a surprise name change and new business model.
Eric Watson, an undisclosed control person of Long Island-based Long Blockchain, drove the business change during the 2017 crypto craze and tipped off his friend and broker, Oliver Barret-Lindsay, according to the SEC s complaint, filed in the United States District Court for the Southern District of New York on Friday, July 9.
Long Blockchain, based in the Village of Farmingdale in Nassau County, had been an iced-tea company called the Long Island Ice Tea Corp. before it was rebranded to the blockchain-based business model amid the bitcoin frenzy.