Eric Watson's attempt to dismiss an insider trading charge has failed. Photo / BusinessDesk
Eric Watson's attempt to dismiss an insider trading charge has failed. Photo / BusinessDesk
In a double whammy, beleaguered New Zealand businessman Eric Watson has failed to have an insider trading charge claim against him dismissed and has had his counter-claim against the action thrown out.
US regulator the Securities and Exchange Commission is now ploughing ahead with alleged securities violations against Watson “inconnection with his role as a corporate insider and controlling shareholder of Long Island Tea Corp (LTEA, since known as Long Blockchain Corp)”.
The insider proceedings have been stalled since November while Watson’s claims were heard before District Judge Andrew Carter jnr in the US District Court, southern district of New York.
