Blockchain and the Law

Tag Archives: Class Actions

Blockchain Meets Morrison: Court Rejects Blockchain Class Settlement Because of Concerns About Adequacy of Representation

By Jonathan Richman on Posted in Digital Assets, Initial Coin Offerings, Litigation: Civil, Securities
The U.S. District Court for the Southern District of New York recently rejected a proposed settlement of a securities class action involving purchasers of digital tokens due to concerns about whether the lead plaintiff had adequately represented the class for settlement purposes.  Judge Lewis A. Kaplan held in Williams v. Block.one that the federal securities laws did not … Continue Reading

Lawsuit Alleging that LATX Tokens are Securities Survives Motion to Dismiss

By Divya Taneja on Posted in Litigation: Civil, Securities, Token Sales
On December 10th, 2018, a U.S. District Judge for the District of New Jersey denied Latium Network, Inc. (“Latium”) and its co-founders’ motion to dismiss a class action alleging violations of Section 5 of the Securities Act of 1933 (the “Act”) for offering and selling unregistered securities in the form of Latium X (“LATX”) tokens.… Continue Reading
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