The Nasdaq halts trading in ‘blockchain’ company Longfin after the SEC accused executives of selling $27 million in restricted shares (LFIN)
|04/06/2018||Posted by BusinessMediaguide.Com under General World News||
- Longfin, a 1-year-old fintech company, is under fire following SEC allegations that its CEO and his associates sold $27 million in restricted company stock.
- On Friday, the SEC obtained a court order to freeze the $27 million in question.
- NASDAQ halted trading for Longfin, which went public in December, following the court order.
- Longfin first made waves in December when its “pivot to blockchain” sent share prices up more than 2,400%.