A stock promoter failed to persuade a judge to dismiss a US Securities and Exchange Commission insider-trading lawsuit in which he’s accused of illegally profiting from a company rebranding during the 2017 crypto craze.
Gannon Giguiere, owner of TheMoneyStreet.com, allegedly made a $162,500 by buying Long Island Ice Tea Corp. stock before the company changed its name to Long Blockchain Corp. Giguiere sold the stock hours after the rebranding.
Long Blockchain was among a number of obscure micro-cap companies that embraced 2017’s massive Bitcoin rally by announcing new business ventures focused on cryptocurrencies. They were rewarded with huge gains in ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.