• Home
  • About
  • Webcasts
  • ‘Enforcement 40’ for 2020
  • Enforcement Hall of Fame
  • Contact
Securities Docket
Ankura 480x60
  • Class Actions
  • Criminal
  • Global
  • People
  • SD Insider
  • SEC
  • Video
  • Subscribe by email
  • Subscribe
Browse: Home / 2018 / January / 26 / As Predicted, Another Cryptocurrency-Related Securities Suit | The D&O Diary

As Predicted, Another Cryptocurrency-Related Securities Suit | The D&O Diary

By Securities Docket on January 26, 2018, 10:53 am

As if to prove my point, on January 24, 2018, plaintiffs filed yet another cytptocurrency-related lawsuit in the Southern District of Florida. The complaint, which can be found here, was filed on behalf of a class of persons who invested in cryptocurrencies with BitConnnect, a U.K. company that promised traders outsized-returns of up to 40% per month and minimum 1% gains on a daily basis. The company and its affiliates relied on a Ponzi-like scheme to recruit additional investors and to pump promised returns. At its peak, the company had a market cap of over $2 billion. However, when the company shut down operations on January 17, 2018, investors experienced a decline of over 90% in their holdings.

via As Predicted, Another Cryptocurrency-Related Securities Suit | The D&O Diary

Blog Widget by LinkWithin

Posted in Class Actions, Top | Tagged Cryptocurrency

« Previous Next »

‘Enforcement 40’ for 2020

Securities-Docket_Medium-Rectangle_CaseStudyArrow

Our Sponsors

Securities-Docket_260x125_14Sec Ankura 260x125

Join Us On LinkedIn

Join the Securities Litigation and Enforcement Group on LinkedIn

Archives

Copyright © 2021 Securities Docket.

Powered by WordPress and Hybrid.