In Spring 2018, Seattle, Washington-based start-up tech security company Atonomi LLC (“Atonomi”), a wholly-owned subsidiary of CENTRI Technologies, Inc., raised approximately $25 Million through an Initial Coin Offering (ICO) to develop what it promoted as a cryptocurrency security protocol that would revolutionize identity validation for users of internet-connected devices. Silver Miller (www.SilverMillerLaw.com) – one of the leading cryptocurrency investor law firms in America -- has commenced an investigation on behalf of concerned investors into whether the Atonomi ICO violated state and federal securities laws for failing to register its token sale. Although Atonomi acknowledged in its offering documents that it was selling a security and the company sought from government regulators an exemption from having to register its sale, no exemption was ever recognized by regulators; yet the unregistered sale went forward. According to public documents, the Atonomi tokens have developed no substantive utility since they were released other than as an investment vehicle; and the price of Atonomi tokens have collapsed by over 98% -- thus destroying for Atonomi investors any viable market for the tokens.
Securities laws exist to, among other things, ensure that important financial information is disclosed to investors so those investors can make informed judgments about whether to purchase a company’s securities. When securities laws are violated or ignored, investors are at risk of being defrauded and losing their funds through deceit or otherwise unfair fundraising practices. Silver Miller is committed to representing investors who have been harmed by deceit and misrepresentation by companies who fail to adhere to those important investor-protection standards.
If you have invested in the Atonomi ICO or any other ICO and are concerned that your investment is in jeopardy or that you have been defrauded, contact Silver Miller for a no-cost, no-obligation consultation to discuss you legal rights.
David C. Silver
Silver Miller – Managing Partner
Telephone: Florida 954-516-6000