Longfin Investors Want Another Shot At Network 1 Claims

Law360 (September 16, 2019, 7:01 PM EDT) -- Investors in the shuttered cryptocurrency company Longfin Corp. would like one more chance to make their case against Network 1 Financial Securities Inc., a broker-dealer they claim misled them about Longfin's value.

The investors told U.S. District Judge Denise Cote on Monday that they have new details in latest version of the allegations against Network 1, seeking her permission to file a third amended complaint.

They said the revelations support their own claims that "Network 1, at minimum, was on clear notice of the Longfin fraud and recklessly disregarded glaring red flags in actively participating in Longfin's fraudulent scheme."

Judge Cote...

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!