Bitconnect
February 2019: This case was consolidated with several related cases. (Case No. 18-cv-80086, S.D. Fl.) For more information about the consolidated case, click here. November 2018: This action was transferred…
BitConnect Multidistrict Litigation
April 2020: Several of the named plaintiffs filed a Notice of Appeal regarding the dismissal orders.
March 2020: The claims against the remaining defendants were dismissed for failure to state a claim.
January 2020: A federal judge denied the plaintiffs’ motion to use alternative methods to serve (or provide notice of the litigation to) defendants in other countries, including India and Vietman, and dismissed the claims against them.
November 2019: The claims against two of the defendants were dismissed for lack of personal jurisdiction.
June 2018: Several class-action lawsuits filed against BitConnect were consolidated to be heard together in a multidistrict litigation. The complaint alleges that the defendants violate federal securities laws and operate a cryptocurrency investment program that is both a pyramid scheme and Ponzi scheme. Among other things, the complaint claims that the company paid affiliates commissions for recruiting others to invest, and existing investors were paid with money from new investors. To read the complaint and learn more about the claims, click here. (In Re BitConnect Securities Litigation, Case No. 18-cv-80086, S.D. Fla.)
For more of TINA.org’s coverage of BitConnect, click here.
Class-Action Tracker
Bitconnect’s Marketing Representations
February 2019: This case was consolidated with several related cases. (Case No. 18-cv-80086, S. D. Fla.) For more information about the consolidated case, click here. October 2018: The case was…
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