Resurrecting Time-Barred Crypto Claims Is An Uphill Struggle
By Eric Sibbitt, William Pao, David Kirman and Meg Lippincott (May 6, 2020, 5:53 PM EDT) -- In nearly a dozen early-April cryptocurrency-related actions filed in the U.S. District Court for the Southern District of New York, plaintiffs advanced an untested theory that they hope will allow them to pursue otherwise time-barred claims: that U.S. Securities and Exchange Commission guidance issued last year effectively extends the statute of limitations for their claims.
While the plaintiffs' theory faces substantial hurdles, it threatens to open the door to other plaintiffs making similar claims to extend the applicable statutes of limitations against other digital asset projects and trading platforms.
On April 3, a handful of named plaintiffs, all represented by the...
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