Originally Posted by
Snoopy
The SEC alleged security law violation by Eric Watson. Then it was all settled out of court. No securities law violation was proven.
And as the following quote from your reference, Balance, makes clear:
"Even though Watson is a New Zealand citizen and his purchases and sales of McCollam shares occurred in New Zealand, Watson engaged in conduct that had the effect of defrauding a US issuer and its shareholders."
The alleged offending had a distinct New Zealand component and connection. There is no New Zealand transaction trail that links Alan Lai's alleged offending at Agria with New Zealand.
SNOOPY