News & Analysis as of

Class Action Cryptocurrency Digital Assets

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Polsinelli

Blockchain+ Bi-Weekly: August 2024 #2

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As Congress is on its August recess, litigation over digital asset issues continued with major developments in the Yuga Labs trademark case and the SEC cases against Kraken and Consensys. While these matters all involve...more

Cornerstone Research

Securities Class Action Filings: 2024 Midyear Assessment

Cornerstone Research on

The number of securities class action filings increased in the first half of 2024 relative to the second half of 2023, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class...more

Skadden, Arps, Slate, Meagher & Flom LLP

Court Declines To Dismiss Securities Class Action Alleging That DraftKings NFTs Are ‘Securities’

Securities litigation arising from the purchase or sale of digital products such as cryptocurrencies, nonfungible tokens (NFTs) and security tokens has proliferated in recent years. A gating question in these cases is whether...more

Polsinelli

Blockchain+ Bi-Weekly: June 2024

Polsinelli on

Our last update included a whirlwind of activities, with the surprisingly bipartisan House of Representatives vote on FIT 21 and the SEC’s approval of certain Ether spot ETF rule change proposals coming in quick succession....more

A&O Shearman

DeFi protocol Uniswap and investors avoid suit for fraudulent activity on digital asset exchange

A&O Shearman on

On August 30, 2023, in a case of first impression, the U.S. District Court for the Southern District of New York dismissed in full a putative securities class action against Uniswap Labs, a decentralized finance (“DeFi”)...more

Dechert LLP

Cryptocurrency Securities Class Action Litigation 2022 Year Review

Dechert LLP on

The 2022 decline in the cryptocurrency and digital assets market resulted in a year with more crypto securities class action litigation than any previous year. This article explores the 2022 crypto securities class action...more

Orrick, Herrington & Sutcliffe LLP

District Court says EFTA applies to cryptocurrency

On February 22, the U.S. District Court for the Southern District of New York partially granted a cryptocurrency exchange’s motion to dismiss allegations that its inadequate security practices allowed unauthorized users to...more

Orrick, Herrington & Sutcliffe LLP

District Court stays stablecoin suit pending arbitration proceedings

On January 6, the U.S. District Court for the Northern District of California granted a defendant cryptocurrency exchange’s motion to compel arbitration in a class action alleging the exchange, along with the issuer of a...more

Skadden, Arps, Slate, Meagher & Flom LLP

Rise in Crypto Securities Filings Could Persist

Increased regulatory oversight and recent turmoil in the digital asset market have led to a rising number of securities litigations focusing on cryptocurrencies. Sixteen cryptocurrency-related class actions have been filed...more

Harris Beach PLLC

The First FTX Lawsuit – Class Action Crypto

Harris Beach PLLC on

On November 15, 2022, the CEO of FTX and various alleged celebrity endorsers were sued in Florida federal court by Edwin Garrison, an FTX investor. In the complaint, Garrison alleges that FTX engaged in the unlawful sale of a...more

Bilzin Sumberg

Crypto Litigation Claims, Defenses Industry Should Watch

Bilzin Sumberg on

Cryptocurrency companies face a steadily growing number of lawsuits, adding to a list of recent headaches for their industry. That list includes steep recent declines in investment value and a high probability of new...more

McGuireWoods LLP

Blockchain, Cryptocurrency and Non-fungible Token Litigation Primer: A Tort Class Action

McGuireWoods LLP on

A Feb. 28, 2022, McGuireWoods alert discussing a recent case concerning non-fungible tokens (NFTs) and breach-of-contract claims suggested that future litigation over digital assets — especially as it relates to tort claims...more

Proskauer - Advertising Law

Crypto Chaos: EthereumMax Executives, Kim Kardashian, Floyd Mayweather, Jr., and Paul Pierce Sued in Cryptocurrency Advertising...

Cryptocurrency, social media, and celebrity or influencer endorsements have all been top of mind recently, including for advertisers. A newly filed lawsuit is asking a federal court to consider the intersection of these...more

Polsinelli

The 2019 SEC Token Framework Does Not Extend the Statute of Limitation for Token Class Action Lawsuit under Recent SDNY Ruling

Polsinelli on

In 2020, plaintiffs filed a series of class action lawsuits alleging that a number of digital tokens were actually “securities” and, thus, were illegally issued or traded on exchanges. Accusing a number of issuers and...more

Robins Kaplan LLP

Financial Daily Dose 3.4.2020 | Top Story: Stocks Rebound

Robins Kaplan LLP on

Stocks rebounded with the S&P 500 making gains for the second time in three days and 10-year Treasury yields fell below 1%; analyst suggest the market upswing was caused, in part, by the Democratic primary results showing...more

Perkins Coie

Blockchain Week in Review - January 2020 #4

Perkins Coie on

Weekly Focus - Replies to Motions for Summary Judgments filed in SEC v. Telegram - Cases Consolidated in Class Action Suit Against iFinex Inc - Bittrex Introduces Insurance Coverage - -Research Report Finds the...more

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