ChainCatcher news, law firm Pomerantz LLP announced that it has filed a class action lawsuit against the Nasdaq-listed cryptocurrency exchange Coinbase Global, Inc., involving Coinbase and certain of its executives and/or directors participating in securities fraud or other illegal business practices.

ChainCatcher news, law firm Pomerantz LLP announced that it has filed a class action lawsuit against the Nasdaq-listed cryptocurrency exchange Coinbase Global, Inc., involving Coinbase and certain of its executives or directors participating in securities fraud or other illegal business practices.

ChainCatcher news, the law firm Pomerantz has filed a class action lawsuit in the Eastern District of New York against the Bitcoin mining company Argo Blockchain and some of its executives, representing users who participated in Argo's initial public offering and users who traded Argo securities from September 23, 2021, to October 10, 2022, claiming against the defendant Argo.Pomerantz alleges that its offering documents were prepared negligently, containing untrue statements of material facts or omitting other necessary facts to make the statements not misleading, and were not prepared in accordance with the rules and regulations governing their preparation. Furthermore, throughout the class action, the defendants made significant false and misleading statements regarding the company's business, operations, and prospects. (source link)

ChainCatcher news, the law firm Pomerantz LLP announced that it has filed a class action lawsuit against cryptocurrency and fintech bank Silvergate Capital Corporation (NYSE: SI) and certain executives.The lawsuit claims that during the course of the litigation, the defendants made significant false and/or misleading statements and failed to disclose material adverse facts about the company's business, operations, and prospects.Specifically, the defendants failed to disclose to investors: (1) the company's platform lacked adequate controls and procedures to detect money laundering incidents; (2) Silvergate's customers were involved in money laundering activities exceeding $425 million; (3) for the above reasons, the company was likely to face regulatory scrutiny and potential damages, including penalties and reputational harm; (4) for the above reasons, the defendants' positive statements about the company's business, operations, and prospects were significantly misleading and/or lacked a reasonable basis. (Source link)