Long Blockchain May Have Misled Investors, Nasdaq Says in Letter

Stock market’s earlier notice of compliance is revoked
Company says it disagrees with decision and is appealing

Signage and data are displayed on monitors at the Market Intelligence Desk (MID) inside the Nasdaq MarketSite in New York, U.S., on Thursday, Aug. 18, 2016. U.S. stocks fluctuated as investors weighed near-record equity levels, and indications an uncertain economic outlook leaves policy makers with little reason to raise interest rates.Photographer: Eric Thayer/Bloomberg

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By Olga Kharif

February 21, 2018 at 11:34 PM UTC

This article is for subscribers only.

Long Blockchain Corp., the iced-tea company that jumped in on the cryptocurrency craze, said it was accused by the Nasdaq of possibly misleading investors.

The unprofitable beverage maker said it “strongly disagrees” with Nasdaq’s assertion and has appealed the decision, according to a filing Wednesday. The latest statement amends a filing from last week in which Long Blockchain announced that Nasdaq threatened it with delisting.