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Class Action Digital Currency Cryptocurrency

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: June 2024 #2

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On June 15, 2023, the Polsinelli Blockchain+ team put out our first Bi-Weekly rundown of some of the key stories in the Web3, blockchain, and crypto ecosystems curated by Polsinelli attorneys navigating the intersections of...more

Stikeman Elliott LLP

Ontario Court Dismisses Cryptocurrency Class Action on Jurisdictional Grounds

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In Shirodkar v Coinbase Global, Inc. et al., 2024 ONSC 1399 (“Coinbase”), the Ontario Superior Court of Justice (the “Court”) stayed a proposed class action against one of the four proposed defendants – Coinbase Canada Inc. –...more

Carlton Fields

Proposed Cryptocurrency Class Action Goes Forward in Florida With Defendant’s Help

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Two plaintiffs in Miami-Dade County have filed a class action complaint against cryptocurrency platform Empires X Corp. and its founders based on an alleged Ponzi scheme. In Villanueva v. Empires X Corp., pending in Florida’s...more

Sheppard Mullin Richter & Hampton LLP

DAO Liability and the bZx Class Action

A class action lawsuit filed by users of a decentralized finance (“DeFi”) protocol managed by a decentralized autonomous organization, or “DAO,” may shed light on the potential legal liabilities of a DAO and its...more

Robinson+Cole Data Privacy + Security Insider

Crypto Wallet Data Breach Leads to Class Action Litigation

Plaintiffs filed suit in the District Court for the District of Delaware against Shopify Inc. and TaskUs Inc., alleging that the companies failed to implement measures to prevent a data breach that resulted in a breach of...more

Venable LLP

“Are You Guys Into Crypto???”: Celebrities Promoting Cryptocurrencies Become Class Action Targets

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A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more

Venable LLP

“Are You Guys Into Crypto????”: Celebrities Promoting Cryptocurrencies Become Class Action Targets

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A class action lawsuit filed against Kim Kardashian, Floyd Mayweather, and former professional basketball player Paul Pierce earlier this month underscores the need for celebrity endorsers to take care when they approach any...more

Goodwin

Federal Reserve Hints at Government-Backed Cryptocurrency

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Federal Reserve Hints at Government-Backed Cryptocurrency; Third Circuit Affirms Dismissal of Securities Fraud Class Action Against Shutterfly Inc. Regarding Allegedly Misleading Financial Projections; Ninth Circuit Holds...more

Nelson Mullins Riley & Scarborough LLP

Statute of Limitations Halt Crypto Currency Business Class Actions

Five plaintiffs recently voluntarily dismissed their putative securities class action lawsuits one year after sending shock waves through the crypto world when they filed eleven alleged class action lawsuits against...more

Polsinelli

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

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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

Spilman Thomas & Battle, PLLC

Decoded: Technology Law Insights - Issue 6, September 2020

TikTok Will Partner with Oracle in the United States After Microsoft Loses Bid - "TikTok and Oracle will become business partners in the United States — a deal meant to satisfy the Trump administration's national security...more

Polsinelli

Blockchain Litigation Year in Review (Part 1): Lessons From 2019 And What’s Ahead For 2020

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When is a digital asset a security or a commodity? Are SAFTs safe? Does hyping blockchain create an expectation of profit? Is blockchain a trademark, trade secret or neither? Are free tokens tax-free? Who is Satoshi Nakamoto?...more

Perkins Coie

Blockchain Week in Review - January 2020 #4

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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

Perkins Coie

Blockchain Week in Review - August 2019 #4

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U.S. Developments - Enforcement and Litigation Developments - Craig Wright Faces Sanctions - Craig Wright, the self-proclaimed inventor of Bitcoin, has been tied up in litigation since February 2018 related to his...more

Alston & Bird

Cryptocurrency Securities Class Action Suits: Paving the Path for U.S. Jurisdiction

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The Tezos case presents a relatively novel application of traditional threshold jurisdictional principles to the new world of digital offerings. Our Securities Litigation Group provides insights for both ICO sponsors and...more

Sheppard Mullin Richter & Hampton LLP

Is there a Unicorn Among ICO Issuers?

The United States Securities and Exchange Commission (“SEC”) has indicated that nearly all initial coin offering (“ICO”) filings they have seen are securities offerings. Based on this expansive view, it may be more likely to...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Elon Musk had some explaining to do in light of his “funding secured” tweet on August 7 in the context of taking Tesla private, and he’s gone to the corporate blog to do so, arguing that his meetings with representatives of...more

BakerHostetler

Buying Coffee with Bitcoin, Tracking Ships with Blockchain, Fighting Financial Crimes and Litigating ICOs

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In this issue: - - New Solutions Seek to Bring Cryptocurrencies Closer to Mainstream - Blockchain Developments for Shipping, Food, Pharmaceuticals and Diamonds - Cryprocurrency Scams and Enforcement Actions...more

Kramer Levin Naftalis & Frankel LLP

Cryptocurrencies Face Rise in Investor Class Actions

After a surge in popularity and an increased interest from regulators, virtual currencies — also known as cryptocurrencies — have entered into a new phase in their relatively short history, with an increase in class actions...more

Carlton Fields

In Crypto Litigations Mandatory Arbitration Agreements May Not Be Immutable

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Permissionless blockchains, like the one underlying the bitcoin payment network, were created to provide the public with transparency over transaction information and records....more

Proskauer - Blockchain and the Law

Ripple Faces Class Action Lawsuit Alleging Sale of Unregistered Securities

A class action lawsuit was filed on May 3rd against Ripple Labs Inc.—a fintech startup that controls the third-largest cryptocurrency in the world—and its CEO Brad Garlinghouse, alleging that Ripple sold unregistered,...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The White House’s protectionist plan to impose roughly $60 billion in annual tariffs on Chinese imports went over like a lead balloon on Wall Street, sparking fears of a trade war, increased volatility, and unintended ripple...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Journal dropped something of a bomb on Friday with news that Goldman Sachs’ CEO Lloyd Blankfein is heading out the door as soon as the end of the year. If true, Goldman will likely look for his replacement within its...more

Polsinelli

Cryptocurrency Class Action Lawsuits: A New Frontier

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Cryptocurrencies, like Bitcoin and Ethereum, had a breakout year in 2017. The price of Bitcoin rose from approximately $1,000 per Bitcoin on January 1, 2017, to $13,000 per Bitcoin on December 31, 2017, with a high of...more

Polsinelli

Issuers of Tokens Beware: Class Action Lawsuits Are Coming

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Initial Coin Offerings, or ICOs, were an extremely popular way of raising capital in exchange for crypto tokens in 2017 and have led to class action litigation in 2017 and 2018. While ICOs have been around since 2013, they...more

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