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Saarang
Pilla Bewarse Username: Saarang
Post Number: 947 Registered: 04-2015 Posted From: 66.25.5.81
Rating: N/A Votes: 0 | Posted on Friday, April 06, 2018 - 11:38 am: | |
SEC press release: https://www.sec.gov/news/press-release/2018-61 According to a complaint unsealed today in federal court in Manhattan, shortly after Longfin began trading on NASDAQ and announced the acquisition of a purported cryptocurrency business, its stock price rose dramatically and its market capitalization exceeded $3 billion. The SEC alleges that Amro Izzelden “Andy” Altahawi, Dorababu Penumarthi, and Suresh Tammineedi then illegally sold large blocks of their restricted Longfin shares to the public while the stock price was highly elevated. Through their sales, Altahawi, Penumarthi, and Tammineedi collectively reaped more than $27 million in profits. |