Defendant Name:
Longfin Corp.
Defendant Type:
Public Company
SIC Code:
9999
CUSIP:
54304F10
Initial Case Details
Legal Case Name
SEC v. Longfin Corp., Venkata S. Meenavalli, Amro Izzelden Altahwi a/k/a Andy Altahawi, Suresh Tammineedi, Dorababu Penumarthi
First Document Date
04-Apr-2018
Initial Filing Format
Civil Proceeding
Case Number
18-cv-02977
Allegation Type
Securities Offering
Federal District Court
New York, Southern District of New York
Resolutions
First Resolution Date
06-Apr-2018
Headline Total Penalty and Disgorgement
$284,139
Related Documents:
Complaint
The Commission stated: "This action concerns over $27 million in unregistered distributions of Defendant Longfin securities in a public distribution by Longfin affiliates between December 2017 and February 2018."
2018-61
06-Apr-2018
Press Release--Civil Action
SEC Obtains Emergency Freeze of $27 Million in Stock Sales of Purported Cryptocurrency Company Longfin
The Commission stated: "The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three other affiliated individuals."
SEC Obtains Emergency Freeze of $27 Million in Stock Sales of Purported Cryptocurrency Company Longfin
The Commission stated: "The Securities and Exchange Commission has obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its CEO, and three other affiliated individuals."
SEC Obtains Preliminary Injunction Continuing Freeze of $27 Million in Stock Sales of Purported Cryptocurrency Company Longfin
The Commission stated: "On May 1, 2018, a federal district court in Manhattan granted the Securities and Exchange Commission's motion for a preliminary injunction, extending until the conclusion of the case the emergency order previously entered by the court freezing more than $27 million in trading proceeds from allegedly illegal distributions and sales of restricted shares of Longfin Corp. stock involving the company, its Chief Executive Officer, Venkata S. Meenavalli, and three affiliated individuals, Andy Altahawi, Dorababu Penumarthi, and Suresh Tammineedi."
Final Judgment as to Defendant Longfin Corp.
The Court stated: "It is hereby ordered, adjudged, and decreed that Defendant Longfin Corp. is permanently restrained and enjoined from violating Section 5 of the Securities Act of 1933 . . . It is hereby further ordered, adjudged, and decreed that Defendant is liable for a civil penalty of $284,139."
Other Defendants in Action:
