Embattled Kiwi businessman Eric Watson has shrugged off the latest rejection of his campaign to throw out a US insider trading case against him, vowing to continue defending himself and pursue further civil action.
This week, a New York court ruled against his bid tohave an insider trading claim brought against him by US regulator, the Securities and Exchange Commission, dropped.
His counter-claim against the action was also thrown out.
Because Watson’s motion to dismiss the SEC action was a pre-answer motion (a legal response by a defendant before an official response), Watson has 21 days to file an official answer to the initial insider claim lodged against him.
