Centra Tech Slams Investors For 'Backpedaling' In ICO Suit
Law360 (July 16, 2019, 8:56 PM EDT) -- Centra Tech challenged investors claiming that an arbitration agreement never existed, telling a Florida federal court Monday that investors were backpedaling in their suit accusing the now-defunct cryptocurrency company of fraudulently raising $32 million in its initial coin offering.
Investors signed a class action waiver and are therefore bound to individual arbitration in accordance with the Federal Arbitration Act, wrote Centra Tech, adding that the dispute should not be litigated in federal court.
"Plaintiffs cannot claim there was no arbitration agreement now and [backpedal] their previous claims of knowing there was arbitration, as it cannot be disputed that there was in...
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