Law360 (August 30, 2019, 6:12 PM EDT) — The Switzerland-based Tezos Foundation prevailed in challenging a California state court’s jurisdiction over securities claims related to the foundation’s $232 million initial coin offering for tokens that investors allege to be unregistered securities.
A state court judge in San Francisco sided with Tezos, an independent foundation created to facilitate the ICO for a cryptocurrency known as XTZ, in an order on Wednesday that granted the foundation’s bid to quash a summons from investors who claim the ICO skirted registration requirements for securities.
While a California federal judge allowed a similar suit in his court to go forward against the foundation, finding…
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!