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SEC investigates tea company whose stock rose 500% after adding blockchain to its name

Thursday, August 2, 2018 by Piyush Suthar | Comments

Home News Tech SEC investigates tea company whose stock rose 500% after adding blockchain to its name

Long Island Tea Corp. – no, wait, Long Blockchain Corp. – might have to put an end to their name-changing adventures as the US Securities and Exchange Commission (SEC) has served them with subpoena, Bloomberg reports. Information on the reasons behind the subpoena remains sparse, but the company has been asked to provide further regulatory documents to the SEC. Despite having nothing to do with the technology, Long Island Tea Corp changed their name to Long Blockchain Corp in December 2017. It might seem like a minor thing, but the change caused the company’s share price to jump from under…

This story continues at The Next Web

Authored by Piyush Suthar
Pro Blogger


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