Tezos Hit With Class Suit Over Cryptocurrency Offering

By Sophia Morris (November 27, 2017, 3:48 PM EST) -- An investor in the Tezos blockchain network accused the company's executives of offering the cryptocurrency as securities in its initial coin offering without first registering with the U.S. Securities and Exchange Commission, according to a proposed class action filed Sunday in California federal court.

GGCC LLC and its managing member Brian Beeman accused Arthur and Kathleen Breitman, founders of Dynamic Ledger Solutions Inc., which owns the Tezos source code, of violating federal securities laws by misleading investors about the status of the Tezos network and the access that the individual investors would have to the tokens they purchased during the July...

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