lawsuit

Crypto Attorney Kyle Roche Discusses Class Action Lawsuit

Source Node: https://insidebitcoins.com/news/crypto-attorney-kyle-roche-discusses-class-action-lawsuit/257361
Time Stamp: April 9, 2020 10:55 AM - Modified On: May 21, 2021 - Published By:
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Kyle Roche, a partner at law firm Roche Cyrulnik Freedman recently opened up about 11 class-action lawsuits against top crypto companies. The firm, alongside Selendy & Gay, has filed lawsuits against crypto exchanges as well as ICO tokens. Defendants include Tron, Status, Bancor, and Block.One alongside their executives.Bringing lawsuits against crypto head honchosThe 11 class action lawsuits follow the SEC’s guidance that ICOs are unregistered securities offerings in the US and all ICO issuers and exchanges must be registered with the SEC. The defendants in the case include Changpeng Zhao,

The Crypto Industry’s ‘Bloody Friday’ Lawsuits: Do They Hold Weight?

Source Node: https://cointelegraph.com/news/the-crypto-industrys-bloody-friday-lawsuits-do-they-hold-weight
Time Stamp: April 7, 2020 1:47 PM - Modified On: May 21, 2021 - Published By:
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On April 3, a massive deployment of lawsuits were filed against major crypto industry players across the globe. The eleven lawsuits were filed in the United States District Court for the Southern District of New York in what is being called “Bloody Friday” for the industry.These lawsuits are class action in nature. For those unfamiliar with the term, this means a group of people have joined together to file a lawsuit against another party. Class action lawsuits are not very popular on an international level for a number of reasons,

Investor Sues Crypto Mining Firm Riot Blockchain to Pay $728K in Legal Fees

Source Node: https://cointelegraph.com/news/investor-sues-crypto-mining-firm-riot-blockchain-to-pay-728k-in-legal-fees
Time Stamp: April 7, 2020 1:45 PM - Modified On: May 21, 2021 - Published By:
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An investor sued Nasdaq-listed cryptocurrency mining firm Riot Blockchain for $728,200 that the investor owes in another contract breach lawsuit.According to court documents filed on April 3, the aforementioned sum is the money Riot Blockchain investor Barry Honig and consulting firm GRQ Consultants spent on the legal proceedings over the contracts between the parties. The filing reads:“All of the agreements contain robust indemnification provisions which require Defendant to defend and indemnify Mr. Honig and GRQ against any subsequent lawsuits or claims ‘with respect to any of the’ securities purchases that

BitMEX Operator Gives $400K Sponsorship to Cybersecurity Nonprofit

Source Node: https://cointelegraph.com/news/bitmex-operator-gives-400k-sponsorship-to-cybersecurity-nonprofit
Time Stamp: April 6, 2020 8:09 PM - Modified On: May 21, 2021 - Published By:
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HDR Global Trading, the operator of crypto exchange BitMEX, is giving a $400,000 grant to the cybersecurity nonprofit Shadowserver Foundation.In an April 6 statement on the company’s blog, HDR Global Trading announced that it would offer $400,000 to the organization over the next four years. The BitMEX operator will be acting as a member of the nonprofit’s new industry alliance for Internet security.Richard Perlotto, Shadowserver Director, thanked HDR for “their rapid response to our call for help” and emphasized the organization’s commitment to fighting cybercrime. The director is referring to

Govt. Pauses SEC Suit Against $30 Mln ICO Amid Parallel Investigation Concerns

Source Node: https://cointelegraph.com/news/govt-pauses-sec-suit-against-30-mln-ico-amid-parallel-investigation-concerns
Time Stamp: April 5, 2020 6:04 AM - Modified On: May 21, 2021 - Published By:
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Prosecutors have paused a United States Securities and Exchange Commission (SEC) lawsuit against the alleged operators of a $30 million fraudulent ICO amid concerns that proceedings may impact the integrity of a parallel investigation into the defendants.The United States attorney’s office for New Jersey intervened in the case on April 2.SEC suit paused amid integrity concerns over the parallel investigationThe SEC action against defendants Boaz Manor, Edith Pardo, and the associated companies CG Blockchain Inc and BCT Inc has been halted to maintain the integrity of parallel criminal investigations into

7 Crypto Firms Targeted by 11 Lawsuits in New York

Source Node: https://cointelegraph.com/news/7-crypto-firms-targeted-by-11-lawsuits-in-new-york
Time Stamp: April 5, 2020 2:04 AM - Modified On: May 21, 2021 - Published By:
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Seven crypto companies have been targeted by 11 lawsuits that were filed in a New York federal court on April 3.The suits were filed by Roche Freedman — the same law firm representing the estate of the late Dave Kleiman in the ongoing dispute with self-proclaimed Satoshi Nakamoto, Craig Wright.Eleven lawsuits target seven crypto companiesThe eleven putative class action suits name dozens of parties including cryptocurrency exchanges Binance, KuCoin, BiBox, and BitMEX and parent company HDR Global Trading Limited, and alleged crypto issuers Block.one, Quantstamp, KayDex, Civic, BProtocol, Status, and the

Coinbase-Backed Crypto Rating Council Lists IOTA, BAT, and USDC

Source Node: https://cointelegraph.com/news/coinbase-backed-crypto-rating-council-lists-iota-bat-and-usdc
Time Stamp: April 3, 2020 9:04 PM - Modified On: May 21, 2021 - Published By:
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The question of whether certain cryptocurrencies constitute securities is becoming increasingly relevant within the blockchain industry. As such, some core players in the space are upping their efforts to bring more understanding to the issue.The Crypto Rating Council, or CRC, is a group of major United States’ crypto firms that advocates and promotes regulatory clarity in crypto. Recently, the CRC evaluated a number of new cryptocurrencies to determine whether they should show signs of being securities.Three new tokens are analyzedIn an April 2 blog post, the CRC published an introduction

Crypto Traders Allegedly Involved in a $35m Ponzi Scheme

Source Node: https://cointelegraph.com/news/ecrypto-traders-allegedly-involved-in-a-35m-ponzi-scheme
Time Stamp: April 3, 2020 1:02 PM - Modified On: May 21, 2021 - Published By:
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Three alleged cryptocurrency traders ran a Ponzi scheme which scammed more than 100 investors for over $35 million, according to a lawsuit filed by an entity formed by the victims in a federal court of Florida, United States.According to an announcement published on April 2, Q3 Investment Recovery Vehicle, who represents defrauded investors, accused the trio of alleged crypto traders of cheating victims by promising them a winning trading formula. Former NYSE and Wells Fargo workers among the accused The federal securities fraud case names three individuals as the primary perpetrators of

Amended Ripple Class-Action Covers Possibility XRP Is Not a Security

Source Node: https://cointelegraph.com/news/amended-ripple-class-action-covers-possibility-xrp-is-not-a-security
Time Stamp: April 1, 2020 11:07 AM - Modified On: August 29, 2021 - Published By:
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An amendment to the class-action lawsuit against Ripple, filed March 25, included additional claims of false advertising and unfair competition, “under the alternative theory that XRP is not a security.”The disgruntled investors’ sixth and seventh claims for relief would appear to be a direct hedge in the event that the judge rules against the original suit suggesting that XRP was illegally sold as an unregistered security.Hedging their betsThe filing included two additional claims for relief, in relation to alleged false advertising and unfair competition, both in violation of the California