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New Securities Fraud Lawsuit Argues Block.one Failed To Decentralize EOS
Summary: A cryptocurrency investment fund has filed a class-action lawsuit against Block.one and EOS' high command, claiming the "fraudulent scheme" never fulfilled its promise of decentralization. The Crypto Assets Opportunity Fund (CAOF), and individual investor Johnny Hong, have alleged that Block.one, its CEO Brendan Blumer, CTO Dan Larimer, former chief strategy officer Brock Pierce and former ...
A cryptocurrency investment fund has filed a class-action lawsuit against Block.one and EOS' high command, claiming the "fraudulent scheme" never fulfilled its promise of decentralization.
The Crypto Assets Opportunity Fund (CAOF), and individual investor Johnny Hong, have alleged that Block.one, its CEO Brendan Blumer, CTO Dan Larimer, former chief strategy officer Brock Pierce and former partner Ian Grigg, of looking to "capitalize on the investor fervor for cryptocurrencies" in 2017 by hosting an illegitimate securities sale.
According to the lawsuit filled with the Southern District of New York, plaintiffs argue claimed aimed to mislead investors and inflate the EOS token price during the yearlong ICO, which raised a total of $4.1 billion between June 2017 and June 2018.
By Roland James
Tags: Block.one,Brendan Bulmer,Brock Pierce,CAOF,Crypto Assets Opportunity Fund,Cryptocurrency,Dan Larimer,EOS,Ian Grigg,Johnny Hong,Southern District of New York
Link: New Securities Fraud Lawsuit Argues Block.one Failed To Decentralize EOS [Copy]
