SEC v. Gannon Giguiere (insider trading, 2024)

Judgment entered

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In January 2024 the Securities and Exchange Commission announced a final judgment against Gannon Giguiere, charged with buying 35,000 Long Blockchain shares within hours of a tip about the company's pivot to blockchain and selling for over $160,000 in profit. Without admitting or denying, he consented to an injunction and a $325,000 civil penalty.

The record

What was ordered

Civil penalty

$325k

Disgorgement

—

Prejudgment interest

—

Total relief

$325k

Alleged gain

—

A dash means the release did not state a figure we could extract, not that the figure is zero. Penalty and disgorgement are stored separately so aggregates across the library do not double-count the same dollars.

What is alleged to have happened

The Securities and Exchange Commission announced this judgment on January 3, 2024 as release LR-25920, in a Southern District of New York case filed July 9, 2021 and a judgment obtained on December 28, 2023.

The complaint alleged that Giguiere received confidential information from his friend and co-defendant Oliver-Barret Lindsay, who had been tipped by co-defendant Eric Watson, and bought before the press release that sent the stock soaring.

For the regulator's own account of the facts, read the primary document linked above. This page deliberately summarises the structured record rather than reproducing the release.

What technique is this, and how does it work?

This action is tagged with one technique in our taxonomy. The tagging is ours: regulators charge statutory provisions, not technique names, so the mapping is an editorial judgement described in our editorial policy.

• Insider trading — see how it works, what statute it engages, and every other action tagged the same way.

Timeline

1. 2024-01-03 Litigation release published

Primary documents

Everything on this page derives from the documents below. Where our summary and the primary document disagree, the primary document is right.

• SEC litigation release

The linked release is a work of the United States government and is not subject to copyright. Our summary and narrative above are our own writing.

Same matter

The library links these 2 records because they appear to concern one matter: the same lead defendant, an overlapping technique tag and close filing dates, or a shared court docket or a release that cites the other. Records are listed by date filed.

This grouping is the library's, made by matching names, techniques, dates and citations when the site is built. It is not the regulator's or a court's determination that the records are one case, and it errs towards missing a link rather than making a false one.

Related actions

Other actions in the library sharing at least one technique tag with this one.

Record added September 10, 2026. submit a correction.