New York, April 06, 2018 (GLOBE NEWSWIRE) -- Longfin Corp. (“Longfin” or the “Company”) (LFIN) announced it is in receipt of a formal request from NASDAQ for additional information and plans to fully comply with such request. On Friday, April 6, 2018, NASDAQ placed a T12 trading halt on Longfin's Class A common stock. NASDAQ informed the Company that trading will remain halted until Longfin has satisfied NASDAQ's request for additional information. In addition, Longfin has received a civil complaint and related asset freeze from the SEC and intends to fully cooperate and address the concerns the SEC has raised regarding the stock sales referenced in the SEC’s complaint.
About Longfin Corp.
Longfin Corp (LFIN) is a US-based, global Fintech company powered by artificial intelligence (AI) and machine learning. The Company, through its wholly-owned subsidiary, Longfin Tradex Pte. Ltd, delivers FX and alternative finance solutions to importers/exporters and SME’s. Ziddu.com owned by the company is the only marketplace for smart contracts powered by Consensus Settlement Algorithm on Ethereum blockchain. Ziddu Ethereum ERC20 blockchain Token uses a technology stack in which Smart Contracts run in distributed virtual machines, which in turn run on a Consensus Settlement Algorithm (CSA) providing solutions to warehouse / international trade financing, micro-lending, FX OTC derivatives, bullion finance, and structured products. Currently, the company has operations in Singapore, Dubai, New York and India.
IR Contact:
Dragon Gate Investment Partners LLC
Tel: +1(646)-801-2803
Email: lfin@dgipl.com