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The Crypto Industry’s ‘Bloody Friday’ Lawsuits: Do They Hold Weight?

Source Node: https://cointelegraph.com/news/the-crypto-industrys-bloody-friday-lawsuits-do-they-hold-weight
Time Stamp: April 7, 2020 1:47 PM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

On April 3, a massive deployment of lawsuits were filed against major crypto industry players across the globe. The eleven lawsuits were filed in the United States District Court for the Southern District of New York in what is being called “Bloody Friday” for the industry.These lawsuits are class action in nature. For those unfamiliar with the term, this means a group of people have joined together to file a lawsuit against another party. Class action lawsuits are not very popular on an international level for a number of reasons,

7 Crypto Firms Targeted by 11 Lawsuits in New York

Source Node: https://cointelegraph.com/news/7-crypto-firms-targeted-by-11-lawsuits-in-new-york
Time Stamp: April 5, 2020 2:04 AM - Modified On: May 21, 2021 - Published By:
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Republished By Plato

Seven crypto companies have been targeted by 11 lawsuits that were filed in a New York federal court on April 3.The suits were filed by Roche Freedman — the same law firm representing the estate of the late Dave Kleiman in the ongoing dispute with self-proclaimed Satoshi Nakamoto, Craig Wright.Eleven lawsuits target seven crypto companiesThe eleven putative class action suits name dozens of parties including cryptocurrency exchanges Binance, KuCoin, BiBox, and BitMEX and parent company HDR Global Trading Limited, and alleged crypto issuers Block.one, Quantstamp, KayDex, Civic, BProtocol, Status, and the