Crypto Co. Says Court Miscalculated $3M Award To Investors
Law360 (January 31, 2020, 6:01 PM EST) -- Defunct cryptocurrency company Centra Tech told a Florida federal court Friday that the group of investors suing over Centra's allegedly fraudulent initial coin offering are owed far less than the nearly $3 million the court granted them in a default judgment.
At a hearing in Miami, Centra attorney Frank Gil told the court that the value of the bitcoin owned by the investor plaintiffs should be calculated at the time they purchased the cryptocurrency, not at the time bitcoin reached its highest value, which is what he said the plaintiffs did.
One plaintiff in particular who still holds his bitcoin said...
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!