Ill. Court Rejects Bid To End Mt. Gox Bitcoin Fraud Suit
Law360 (March 13, 2019, 6:10 PM EDT) -- An Illinois federal court on Tuesday rejected a bid to end a putative class action brought by customers of a now-defunct bitcoin exchange who say they were ripped off, finding that continued reassurances from the exchange's customer service desk to Illinois residents establishes jurisdiction.
U.S. District Judge Gary Feinerman said that Mark Karpeles, the founder of Mt. Gox, cannot evade the class' allegations of negligence and fraud. Karpeles sought dismissal on the grounds that he had no connection to Illinois because he never purposely directed business to the state, but the court disagreed.
"Online communications in furtherance of an allegedly fraudulent...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!