CryptoInvesting

Block.one Investors Get Lead Plaintiff in Cryptocurrency Fight


Securities Law News

Aug. 5, 2020, 5:47 PM

Investors who purchased tokens during and after Block.one’s 2017 initial coin offering had their cases consolidated and a lead plaintiff appointed in their New York federal district court action.

Block.one claimed its tokens weren’t securities during the offering, then paid the Securities and Exchange Commission a $24 million fine to settle registration failure allegations, the investors said. Crypto Assets Opportunity Fund LLC will represent the proposed class, the U.S. District Court for the Southern District of New York said Tuesday.

The fund “provided a full accounting of its claimed transactions” and, at just over $36,000 has the largest verifiable…

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