Canyon Bridge founder charged with insider trading
Benjamin Chow, a US citizen born in China, has been accused by the Acting United States Attorney for the Southern District of New York and the Federal Bureau of Investigation of sending inside information about the proposed deal with Lattice to an unnamed friend and former colleague, the report states.
The proposed acquisition of Lattice was eventually blocked by President Donald Trump over national security concerns (see President Trump blocks Lattice deal).
Chow has denied doing anything wrong through an attorney, Reuters said. The attorney pointed out that Chow is not alleged to have made any money and had no motive to enrich those they may have traded in Lattice stock ahead of news about Canyon Bridge’s interest.
The allegations against Chow do not help the prospects of the company’s second attempted western hemisphere purchase; Imagination Technologies Group plc. Canyon Bridge has offered £550 million for intellectual property licensor Imagination subsequent to the successful sale of the MIPS processor subsidiary to Tallwood VC.
Related links and articles:
News articles:
Imagination, MIPS to be sold to China-, California-connected VCs
President Trump blocks Lattice deal
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