A lawsuit against Tazos founders, Kathleen and Arthur Breitman, has been filed by Johann Gevers who is the head of the non-profit Tezos Foundation. The foundation was formed to back the development of the Tazos blockchain project.
The suit was filed in the Superior Court of California, San Francisco branch, and alleges violations of the U.S. securities law through ICO – selling unregistered securities, committing securities fraud and false advertising amongst others.
The Tazos project – whose tokens are yet to be issued – raised a record-breaking 232 million USD.
A representative of the defendants said that the will “aggressively defend themselves” against the suit.