Rapper TI Exits Suit Alleging Endorsement Of FLiK ICO
By Reenat Sinay (March 2, 2020, 9:35 PM EST) -- Rapper T.I. permanently ditched a proposed class action suit accusing him of duping investors into buying now-worthless digital tokens in an initial coin offering for FLiK after a Georgia federal judge found Friday that state securities fraud claims don't link the entertainer's alleged actions to the Peach State.
U.S. District Judge Charles A. Pannell Jr. dismissed state securities fraud, negligent misrepresentation, unjust enrichment and punitive damages claims against T.I., whose real name is Clifford Harris Jr.
Beyond lacking a concrete connection to Georgia, the token buyers' securities fraud and negligent misrepresentation allegations aren't specific enough, the judge ruled.
"The plaintiffs have...
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