Bitcoin Miner CEO Gets $27M Pump-And-Dump Suit Trimmed

Law360 (February 25, 2020, 4:19 PM EST) -- A New York federal judge on Monday dismissed some claims faced by the CEO of a bitcoin mining company but otherwise preserved the U.S. Securities and Exchange Commission's allegations of his involvement in a $27 million pump-and-dump scheme.

U.S. District Judge Edgardo Ramos tossed claims that MGT Capital Investments Inc. CEO Robert B. Ladd violated securities law by failing to disclose the existence of a group of investors who owned more than 5% of his company, but said the SEC had adequately alleged that Ladd aided and abetted that same group of investors in a pump-and-dump scheme involving MGT and two...

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