Tezos Founders Face Second Class Action Lawsuit Over $232 Million ICO
November 17, 2017 | Back to News
David Silver Quote:
ICO investors are following the shaky strategy of ”blind gut and luck“ investing. Their investments are more about faith than about facts. While it’s good to have faith in life, it’s even better to have facts when investing.
The founders of blockchain startup Tezos have been hit with a second class action lawsuit related to the project’s initial coin offering (ICO).
Filed by legal firm Silver Miller in the U.S. District Court in Florida, the suit alleges that Tezos founders Kathleen and Arthur Breitman — along with their company Dynamic Ledger Solutions and the independently-operated Tezos Foundation — illegally sold unregistered securities to U.S. residents during their July ICO, which briefly held the record for the most funds raised in a single token sale. The project raised $232 million during the ICO and the suit estimates that those assets have appreciated to more than $600 million during the intervening months.
Read the rest of the article.