Tagged: class action

February 15, 2018 @ 10:36 am By JD Alois  |  

The law firm of Pomerantz LLP has announced that the class action lawsuit against The Crypto Company (OTCMKTS:CRCW) and certain of its officers, alleging violations of the Securities Exchange Act of 1934, has been voluntarily dismissed. The Securities and Exchange Commission (SEC) halted trading in… Read More

January 11, 2018 @ 12:25 am By Charles Kaufman  |  

Some may have missed a distinctive feature of the recently filed class action lawsuit against Bitcoin mining company Giga Watt, Inc.: it is not a fraud suit. It is a suit for rescission (return of invested funds, with interest) based on the company’s having failed… Read More

January 4, 2018 @ 8:01 am By JD Alois  |  

Any US based initial coin offering (ICO) that raised a fair amount of money and did not file for a securities exemption should be quite nervous now. Giga Watt, an ICO that raised $20 million last summer, was hit with a class action lawsuit by… Read More

December 22, 2017 @ 7:50 am By JD Alois  |  

Class action law suits and cryptocurrency based companies are a marriage made in digital heaven. The trickle of legal challenges is turning into a deluge as more and more law firms see opportunity in pursuing questionable securities offerings or corporate actions. Today, the most recent… Read More

December 21, 2017 @ 3:53 pm By JD Alois  |  

Initial Coin Offerings (ICO) that raised money from US investors are easy targets for law firms and plaintiffs looking to collect on bogus ICOs or ones that simply did not file the proper securities exemption and have failed to deliver on stated commitments. Silver Miller… Read More

December 15, 2017 @ 10:15 am By JD Alois  |  

Initial Coin Offerings are fat targets for attorneys representing disgruntled investors. Tezos is the most prominent example of an ICO gone bad due to the very public internal infighting, the fact that creators attempted to describe investments as donations and the hundreds of millions of… Read More

November 19, 2017 @ 10:00 am By JD Alois  |  

The Tezos Initial Coin Offering (ICO) has been hit with another class action filing, this time in Florida. Filed by the law firm of Silver Miller in Coral Springs, the legal action is on behalf of plaintiff Alejandro Gaviria. The suit names founders Kathleen and… Read More

November 2, 2017 @ 8:17 pm By JD Alois  |  

Tezos raised an astounding $232 million in an Initial Coin Offering (ICO) this past summer.  As the price of Bitcoin and other cryptocurrencies rocketed higher, some industry followers pegged the actual raise by Tezos closer to $400 million. A couple weeks back things started to… Read More

October 23, 2017 @ 4:20 pm By JD Alois  |  

A law suite between investors and LendingClub (NYSE:LC) received the green light to proceed as a class action from US District Judge William Alsup in California last week. The case stems from investors who purchased shares in the online lender only to see the value… Read More

April 2, 2017 @ 10:25 am By Jonathan Nieh  |  

  On March 24, 2017, shareholders of PayPal Holdings Inc., the parent company of mobile-payment provider Venmo, filed a derivative suit against its directors in the District Court of Delaware. A derivative suit is a form of class action in which shareholders can sue company… Read More

May 6, 2016 @ 10:09 am By JD Alois  |  

Rating’s agency Moody’s has published a report that is critical of the marketplace lending sector. Pointing to the class action lawsuit filed in a US District Court against Lending Club (NYSE:LC) on April 6th, Moody’s states that owners of Asset-Backed Loans (ABS) face legal challenges… Read More