Strategy Investors Pull Back Class Action Suit Over Bitcoin Accounting Revisi...
Investors in the prominent Bitcoin treasury company Strategy Inc. have withdrawn a proposed class action lawsuit that accused the company and its executives of misleading shareholders about the risks tied to its Bitcoin-focused investment approach and a recent accounting rule change. Related Reading: US Department of Commerce Puts Macro Data on Chain, Boosting Bitcoin Hyper […]
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A class action suit has been filed against Joshua Garza, Stuart Fraser, and GAW Miners, LLC. This suit comes following the months-long legal proceedings involving the company, including a breach of contract suit from Mississippi Power Company over nearly $350,000 USD in unpaid electricity bills, and the SEC charging Garza and the company with security fraud in December of 2015. The formal complaint filed yesterday is the culmination of over a year of collecting evidence for the case after the Plaintiffs’ announcement of intent in April of 2015. The class action represents over ten thousand....
The investors in the class-action suit allege they lost "tens of millions" of dollars due to not being able to manage their positions and view their balances during peak trading hours. A group of Italian and international investors have filed a class-action suit against major crypto exchange Binance, alleging the firm violated its own rules on futures trading.In a Tuesday announcement, Italy-based legal and consulting firm Lexia Avvocati said it would be taking legal action against Binance to recover damages from trades on the crypto exchange’s futures platform. On behalf of a group of....
On May 16, a class action lawsuit was filed against Michael Saylor’s Strategy (previously MicroStrategy) and its top executives, including President and CEO Phong Le and Chief Financial Officer Andrew Kang. The plaintiff, Anas Hamza, alleges that the Bitcoin (BTC) proxy firm misrepresented crucial aspects of its Bitcoin investment strategy, potentially violating federal securities laws. […]
The unfolding short-squeeze on GameStop stock to the detriment of major hedge funds "could not be allowed to continue." Robinhood, the stock trading app formerly popular with millennials, is facing another class-action suit, following its recent temporary suspension of purchases of GameStop and other “meme-stocks” through its platform.The lawsuit, filed Jan. 29 in Houston, Texas, alleges that Robinhood, along with other named defendants including TD Ameritrade and WeBull, arrived at “a common understanding of what must be done, which they carried out with conscious parallelism.”Conscious....
Adding to the long list of suits against downed Bitcoin exchange Mt. Gox, all of which have to wait for Japanese court action to finish in 2015, three Japanese creditors of Mt. Gox have filed a lawsuit against their former Bitcoin exchange. According to the Japan Times, The three creditors filed lawsuit in Tokyo District Court recently, demanding that Mark Karpeles pay 23.5 million Yen in damages. The suit claimed that Karpeles was "aware of the possibility of illicit withdrawals (of bitcoins) due to fragility of the firm's (computer) system." The suit further claims that "the firm....