No Class Cert. In $400M Bitcoin Fraud Case, Judge Rules

By Celeste Bott (June 23, 2021, 4:51 PM EDT) -- An Illinois federal judge on Tuesday rejected a bid for class certification from customers of defunct Japanese bitcoin exchange Mt. Gox, saying it's not reasonable to conclude that 30,000 putative class members shared the lead plaintiff's interpretations of Mt. Gox's terms of use or even read them.

Handing a win to former Mt. Gox CEO Mark Karpeles, who has argued that a compensation plan in Japan would better serve the proposed class members than litigation in the United States, U.S. District Judge Gary Feinerman said that Gregory Greene's theory of fraud in his $400 million suit turns on Karpeles' drafting and...

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