Rapper T.I. Faces 2nd ICO Suit, Parallel Suit Names Kevin Hart

Law360 (May 10, 2019, 6:54 PM EDT) -- Investors alleging an initial coin offering backed by rapper T.I. and an entertainment executive of being a scam launched a lawsuit in Georgia federal court Friday, while participants in a similar case sought to bring a new claim that involves comedian and actor Kevin Hart.

Investor Kenneth Fedance filed a proposed class action lawsuit against Atlanta-based rapper Clifford Joseph "T.I." Harris Jr. and entertainment executive Ryan Felton, alleging violations of federal securities laws with respect to tokens issued by purported entertainment company FLiK. According to Fedance, Felton and T.I heavily promoted the tokens and promised major returns on investment, but simply...

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