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Cryptoassets & Blockchain Legal News

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A Second-Class Action Suit filed against Tezos Founders

November 15, 2017 by Ashley MAO

Less than three weeks since the last time the founders of the Tezos project had been hit with a lawsuit, another one has been filed against them

The most recent suit filed at the U.S. District Court in Florida focuses on alleged sales of unregistered securities by Tezos founders Arthur and Kathleen Breitman which resulted in 232 million USD raised through their ICO.

The suit doesn’t stop there and proceeds to accuse the defendants of pocketing vast amounts of money from the fraudulent marketing of “Tezzies” – the platform’s native tokens, as charitable contributions.

The Breitmans have previously denied any misconduct.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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