Why a new class action against Block One presents new peril to the defendants that the SEC settlement did not resolve
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Quick Take
- New lawsuit against Block One and its founders was filed 5/19/2020 in New York federal court
- Plaintiffs seek class action status using a “fraud on the market” theory to prove reliance in a securities fraud case
- The lawsuit presents some peril to the Defendant because of the fraud allegations, a prior SEC order — it’s one to watch
The new lawsuit filed against Block.one is one to watch.
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