Selendy & Gay and Roche Cyrulnik Freedman Bring Securities Class Actions Against Cryptocurrency Exchanges and Token Issuers

Selendy & Gay and Roche Cyrulnik Freedman Bring Securities Class Actions Against Cryptocurrency Exchanges and Token Issuers

April 3, 2020

Selendy & Gay and Roche Cyrulnik Freedman, elite litigation law firms based in New York, have filed 12 class actions against four cryptocurrency exchanges (Binance, BitMEX, Bibox, and Kucoin) and seven token issuers (EOS, TRX, CVC, QSP, KNC, SNT, and BNT). These class actions seek to recover damages for investors under federal and state securities laws and, in the case of one of the actions against BitMEX, under the Commodity Exchange Act.

Individuals who traded cryptocurrencies on any of the four exchanges may be eligible to participate in the class actions as lead plaintiffs. Individuals who purchased any of the seven tokens may also be eligible to participate as lead plaintiffs.

If you are interested in participating in any of these class actions as a lead plaintiff, wish to discuss the actions or your potential claims, or have any other questions, please contact us through our e-mail form or call Jordan Goldstein at (212) 390-9008. The 12 class actions are filed in the Southern District New York under the following case captions and docket numbers:

Lee, et al. v. Binance, et al., No. 20-cv-02803; Clifford, et al. v. Tron Foundation, et al., No. 20-cv-02804; Zhang, et al. v. HDR Global Trading Limited, et al., No. 20-cv-02805; Williams v. KuCoin, et al., No. 20-cv-02806; Clifford v. Bibox Group Holdings Limited, et al., No. 20-cv-02807; Williams, et al. v. Block.One, et al., No. 20-cv-02809; Zhang v. BProtocol Foundation, et al., No. 20-cv-02810; Zhang v. Civic Technologies, et al., No. 20-cv-02811; Clifford v. KayDex Pte. Ltd., et al., No. 20-cv-02812; Williams v. Quantstamp, Inc., et al., No. 20-cv-02813; Clifford v. Status Research & Development GmbH, et al., No. 20-cv-02815; Messieh, et al. v. HDR Global Trading Limited, et al., No. 20-cv-03232.

Any member of the proposed classes may move to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class actions. No class has yet been certified in any of the class actions. Until a class is certified, you are not represented by counsel unless you retain one. You may retain counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as a lead plaintiff.

Selendy & Gay and Roche Cyrulnik Freedman have significant experience prosecuting major securities actions, including in the crypto-asset space, and have collectively recovered billions of dollars on behalf of clients. Both firms represent plaintiffs and defendants worldwide and are part of the team appointed interim lead counsel in the lawsuit concerning digital assets captioned Leibowitz et al v. iFinex Inc. et al, pending in the Southern District of New York under docket number 1:19-cv-09236.

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