The 1World token lawsuit and the perils of bad contracts
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Quick Take
- New lawsuit in San Mateo County Superior Court by 1World Online Inc. against Blockchain Generation seeks damages for breach of a so-called “Token Barter Agreement”
- Plaintiff says that they were promised ICO tokens and consulting services in exchange for 1World tokens, but defendants failed to deliver
- Poorly drafted contract drafted at height of ICO boom may complicate the case if defendants answer the lawsuit and mount a vigorous defense
- Also possible that status of tokens as unregistered securities – if that is the case – could complicate case resolution
A new lawsuit in San Mateo County Superior Court by 1World Online Inc. against Blockchain Generation seeks damages for the breach of a so-called "Token Barter Agreement."
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