Tagged: lawsuit

AML Authorities in Philippines Identify People of Interest Affiliated with Wirecard, Meanwhile Sale of Subsidiaries Show Progress

Wirecard (WDI:DE) and bankruptcy proceedings are inching forward for a Fintech that was once valued in the billions of dollars. Meanwhile, anti-money laundering authorities in the Philippines have uncovered 57 individuals of interest affiliated with the firm, according to a report. Bloomberg states that the Executive… Read More

Crowdfunding Platform YieldStreet Hit by Lawsuit Regarding Investor Losses [u]

Crowdfunding platform YieldStreet has been hit with a filing for class action against the investment platform according to a release distributed by several law firms. YieldStreet caters to sophisticated, accredited investors offering alternative investments such as property, art or marine assets. According to the note,… Read More

FinancialApps Moves Forward with Lawsuit Challenging Envestnet and Subsidiary Yodlee

FinancialApps is suing Envestnet (NYSE:ENV) and subsidiary Yodlee in regards to claims of misappropriation of trade secrets, breach of contract, fraud, and more. FinancialApps is an API platform providing Fintech solutions like lending. Envestnet is a data aggregation and analytics platform for digital financial services… Read More

Cannabis Crypto: Paragon Coin Class Action Lawsuit Poised to Move Forward

Paragon Coin, and its affiliated initial coin offering, is pretty emblematic of the ICO heyday when any token could raise money based largely on a white-paper and effective marketing campaign. While it is hard to accurately discern, Paragon issued the PRG token raising around $12… Read More

Lawsuit Filed Against BitMEX, a Major Cryptocurrency Derivatives Exchange, for Allegedly Engaging in Illegal Activities like Money Laundering, Racketeering

A lawsuit was filed on May 16, 2020, against HDR Global Trading Ltd, the parent company of the Hong Kong-operated Bitcoin Mercantile Exchange (BitMEX), a leading digital currency derivatives exchange that averages billions of dollars worth of daily trading volume. The 106-page lawsuit has also… Read More

Telegram to Hand Over Official Communications, Financial Statements, and Other Info Related to its Allegedly Unlawful ICO to SEC

Encrypted messaging service provider Telegram says it will be handing over official communications, bank records and other relevant information to the US Securities and Exchange Commission (SEC). These details are reportedly being provided as part of an ongoing legal battle against Telegram. US authorities have… Read More

Telegram to Refund Money from GRAM ICO? Perhaps.

Last Thursday, a letter posted on the Russian website of SmartLab said that Telegram will offer GRAM purchasers the option to receive their money back as the deadline for the issuance of the tokens had passed. Telegram has been in an ongoing legal battle with… Read More

Ripple Has Had Enough. Crypto Firm Sues YouTube for Allowing XRP Giveaway Scams

Ripple has been pushed to the edge, according to a blog post today. The crypto-firm is suing YouTube – part of Google. In a document filed in the US District Court, Northern District of California, Ripple Labs, and Bradley Garlinghouse, slammed YouTube for: “irreparable harm… Read More

Lawsuit Filed Against Maker Foundation for Allegedly Misrepresenting Information to Investors, which Led to Over $8 Million in Losses Following ETH Price Crash

A class-action lawsuit has been filed against the Maker Foundation, which supports the ongoing development of MakerDAO, a leading decentralized Ethereum (ETH)-powered lending facility. The suit alleges that the foundation intentionally misrepresented the risks potential investors in the decentralized finance (DeFi) ecosystem could face. The… Read More

Ongoing SIM Swap Lawsuit by Michael Terpin Sees Response to AT&T’s Motion to Strike $200 Million Punitive Damage Claim

The ongoing lawsuit regarding a SIM Swap scam filed by Michael Terpin against AT&T Mobility took another step forward this week. Earlier this year, it was ruled that plaintiff Terpin can proceed with statutory, contract, and tort damages claims against AT&T Mobility for $24 million… Read More

The Blockchain Association Files Amicus Brief in Support of Telegram’s Battle with the SEC

Telegram has been engaged in an ongoing battle with the Securities and Exchange Commission (SEC) regarding the sale of GRAM tokens – an offering that raised $1.7 billion. The legal fisticuffs kicked off last October when the SEC filed an emergency action and obtained a… Read More

Roche Cyrulnik Freedman and Selendy & Gay File Multiple Class Actions Against Well Known Crypto Exchanges, Also Targets Manipulative Conduct at Bitmex

Two law firms, Roche Cyrulnik Freedman and Selendy & Gay, have jointly filed 11 class actions against well-known crypto exchanges. The lawsuits also include accusations of “manipulative conduct” by Bitmex. The allegations were filed in the Southern District of New York against four crypto exchanges… Read More

Judge Castel: Telegram Fails to Establish Exemption from Registration

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

Yesterday, in an Opinion and Order from Judge P. Kevin Castel, it was decided that Telegram has failed to establish an exemption from the registration requirement under existing securities law. Telegram is an app that is a highly popular messaging service utilized by more than… Read More

Tezos Lawsuit: Plaintiffs Move to Settle for $25 Million

Tezos, a blockchain company that raised $232 million in an initial coin offering (ICO) in 2017, may settle a class-action lawsuit filed in the United States District Court, Northern District of California. Tezos is one of the most successful ICOs ever recorded before the US… Read More

Michael Terpin’s SIM Swap Lawsuit Against AT&T Moves Forward

According to a release, Michael Terpin’s lawsuit targeting mobile service provider AT&T will move forward. The case involves a SIM Swap fraud that Terpin believes AT&T could have easily halted. This week, Judge Otis Wright II ruled that plaintiff Michael Terpin can proceed with statutory,… Read More

SEC: Telegram Has Been Using Funds from GRAM Token Sale to Cover 90% of Expenses at Messenger Division

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

In its latest submission in a case against private messaging app provider Telegram, the SEC claims that, Telegram has been using funds raised to develop the TON blockchain to rather cover operating expenses at the messaging business. Telegram raised $1.7 billion USD from 171 purchasers… Read More

Tether Issues Statement on Consolidation of Class Action Lawsuits

Tether, the stablecoin that has endured a good share of challenges, has issued a statement on pending lawsuits targeting the company. According to a release,  the plaintiffs in three class action proceedings against Tether filed a letter with the U.S. District Court for the Southern… Read More

U.S. Law Firm Sued for Advising “Crypto Assets are Not Securities”

A Delaware-registered company called Digital Capital Management is suing law firm Faegre Baker Daniels for allegedly providing “erroneous” legal advice in 2017 that greenlit establishment of a cryptocurrency/digital token investment fund. The story was broken by Bloomberg Law. The fund, Crypto Asset Management LLC (CAM),… Read More

Crypto Exchange Kraken Sued for Terminating Possible Whistleblower

The Citizens Jury Wheel Legal Court Trial Justice Judge Law

A former employee for the Kraken cryptocurrency exchange (Payward Inc.) is suing the company in California for discrimination, harassment, wrongful dismissal and retaliation for whistleblowing. The story was broken by Attack of the 50-Foot Blockchain author, David Gerard. Plaintiff Nathan Peter Runyon, “a decorated Marine… Read More

Clash of Briefs: New York Attorney General and Bitfinex Lawyers File Contradictory Summaries

The New York’s Attorney General’s Office submitted a comprehensive brief to the Supreme Court of New York on December 4th summarizing the current state of the NYAG’s case against Bitfinex and Tether et al., cryptocurrency companies accused of fraud and market manipulation. Lawyers for the… Read More

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