Centra Tech Cites Arbitration Clause In Fighting Class Cert.

Law360 (June 28, 2019, 5:56 PM EDT) -- Cryptocurrency payment platform Centra Tech on Thursday said investors accusing it of fraudulently raising $32 million in an initial coin offering can't be certified as a class because they already agreed to arbitrate any disputes.

Centra's opposition to a class certification bid is far from the first time the platform has deployed its arbitration argument, having asked a Florida federal judge just one week earlier to push the investor action into arbitration based on an agreement the investors had to have signed in order to buy the digital tokens now at issue.

"When the plaintiffs purchased Centra tokens, they agreed to...

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