Custodian Seeks To Toss Crypto IRA Co.'s Suit Over Assets

Law360 (August 30, 2019, 5:13 PM EDT) -- The contracted account custodian of retirement account service provider Digital IRA on Friday urged a South Dakota federal judge to toss a suit accusing the custodian of deliberately thwarting customers' requests to transfer their digital assets to a competitor.

The Kingdom Trust Co. said in its dismissal bid that Digital IRA’s lawsuit in South Dakota federal court amounted to “forum shopping” since Kingdom Trust had filed a separate suit against Digital IRA in Kentucky federal court just a few days earlier and that the cases revolve around the same issues.

Kingdom Trust said Digital IRA’s Monday complaint was in essence merely...

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