Roche Cyrulnik Takes Lead In $1.4T Bitcoin Manipulation Suit
Law360 (February 27, 2020, 9:50 PM EST) -- Roche Cyrulnik Freedman LLP confirmed Thursday that a New York federal judge has appointed it interim lead counsel in a bitcoin market manipulation case against Bitfinex and Tether that could be worth up to $1.4 trillion in damages.
U.S. District Judge Katherine Failla picked the recently launched firm from two other sets of legal teams vying for lead plaintiff appointment in the putative class action accusing Tether, the issuer of a "stablecoin" cryptocurrency of the same name, and cryptocurrency exchange Bitfinex of engaging in a "part-fraud, part-pump-and-dump, and part-money laundering" scheme that eventually cost cryptocurrency investors hundreds of billions of dollars.
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