Hagens Berman Sobol Shapiro LLP is alerting crowdfund investors to the Tezos class action and the firm’s investigation into recovering the bitcoins (BTC), Ethereum (ETH) or other consideration paid in the Tezos Initial Coin Offering (“ICO”).
The SEC recently determined that those who engage in distributed ledger or blockchain-enabled means for raising capital tokens must take appropriate steps to ensure compliance with the U.S. federal securities laws. The “Tezzies” or “XTZ” token offering strongly resembles an offering of securities subject to the securities laws. The Tezos ICO is now subject to two securities class action lawsuits pending in the California Superior Court for the County of San Francisco and in the U.S. District Court for the Middle District of Florida with claims for securities law violations.
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