Investors Say Crypto Co. Status Research 'Tricked' Them
By Rachel O'Brien (January 15, 2021, 7:32 PM EST) -- Investors suing Swiss blockchain technology company Status Research urged a New York federal judge Thursday not to toss their proposed class action, arguing U.S. securities laws apply to the foreign company's unregistered digital tokens.
While Status Research & Development GmbH blasted the suit as "cookie cutter" for being among 11 filed in April accusing crypto-asset exchanges and digital token issuers of offering and selling billions of dollars' worth of unregistered tokens, investors shot back and said the company engaged in "lawless conduct" to "trick" them.
Status Research and its co-founders Carl Bennetts and Jarrad Hope, foreign nationals living abroad, sold Status...
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