Wave Of Suits Could Lead To New Era In Crypto Litigation

Law360 (April 9, 2020, 10:47 PM EDT) -- A flood of securities class action complaints filed last week in New York federal court against a host of digital asset exchanges and issuers may foreshadow a new phase in fintech litigation, building on a flurry of targeted actions and guidance over the past year.

The plaintiffs, represented by Selendy & Gay PLLC and Roche Cyrulnik Freedman LLP, took aim at four exchanges and seven issuers that they claim took advantage of market enthusiasm following the success of Bitcoin and Ethereum and failed to adhere to federal and state securities laws. The suits were filed on April 3 in the Southern...

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