The man facing the country's first insider-trading trial can be named for the first time.
Photo: 123RF
Hamish Marc Sansom's name suppression lapsed today at his trial in Auckland.
He denies insider trading.
The Financial Markets Authority said Mr Sansom received a text message on 22 September 2015 alerting him that sales in a company were not going well with the additional message "time to sell up?".
According to the charge, Mr Sansom sold his $15,000 shares for $3.41 each two days later, and the company publicly announced decreased US sales four days after that.
The trial before Justice Hinton and a jury has been set down for a week.