Crypto Buyers Deserve Cert. In Illicit Tokens Suit, Judge Says

By Katryna Perera (October 22, 2021, 7:07 PM EDT) -- A New York federal magistrate judge has recommended that certification be granted to a narrowed class of investors in a suit against online crypto-asset exchange KuCoin, which has been accused of not registering as a securities exchange and broker-dealer and transacting unregistered securities.

On Thursday, U.S. Magistrate Judge Robert W. Lehrburger recommended in a report that Chase Williams be named class representative and the firms Roche Freedman LLP and Selendy & Gay PLLC be named class counsel.

However, the judge also recommended a narrowed definition of the class be adopted to only those who purchased and sold TOMO digital tokens through KuCoin,...

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