Butterfly Labs Faces Class Action Suit Over Pre-Pay Orders
Bitcoin miner maker Butterfly Labs (BFL) is facing a class action suit, brought by customers from across the US. The class action was filed through Wood Law Firm LLC by a group of BFL customers challenging the sales and advertising practices of the Kansas-based mining outfit. Customers claim they ordered and paid BFL mining gear which they never received, or which they received long after BFL's promised shipping date. Not the first time for Butterfly Labs. Disputes are quite common in the world of mining hardware. Manufacturers are often keen to accept as many pre-orders as possible, often....
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Finally, after more than a year of waiting, those who preordered the 5GH/s Jalapeno ASIC Bitcoin miner from Butterfly Labs should start receiving their orders. Butterfly Labs announced today that nearly every Jalapeno order through July 3rd 2012 has been shipped out. They have promised that every backlogged order will be shipped within the next 90 days and this morning they posted a picture up of over 100 units that were on their way out the door. Butterfly Labs has been the source of much excitement and almost equal scorn since they started taking orders for their much anticipated ASIC....
Butterfly Labs is facing a lawsuit for over $5 million that alleges that it was negligent in its business dealings, and even accuses the company of downright fraud. The suit was brought by Martin Meissner, who placed a $62,000 order for BFL miners back in March 2013. Meissner claims he did not received the units or a refund for his payment, according to a report in Ars Technica. The suit was filed in December, and it accuses Butterfly Labs of fraud, negligent representation and breach of contract. Motion to dismiss. Butterfly Labs and its attorneys refused to comment on the matter, but....
Butterfly Labs, a failed Bitcoin miner manufacturer, has been shut down by the Federal Trade Commission. According to a statement published on the regulator's website, the FTC shut down Butterfly Labs pursuant to a court order obtained from a court in the Western District of Missouri. Also read "We need to talk about Butterfly Labs". This past week, the FTC slapped Butterfly Labs, a Kansas bitcoin miner manufacturer, with a lawsuit. In the civil lawsuit, the FTC found that Butterfly Labs had contravened section 5(a) of the FTC Act by engaging in "unfair or deceptive business practices in....
A law firm made news this week when they announced that a class-action lawsuit has been filed against Butterfly Labs which challenges both the sales and advertising practices of the Kansas-based mining hardware manufacturer. In the complaint, filed by Wood Law Firm, it is alleged that the company might have collected up to $25 million in pre-order payments, using equipment manufactured for customers to mine for themselves as part of a quality assurance testing program. The complaint also alleges that Butterfly Labs used portions of pre-order payments to make loans to shareholders, and even....
It's really hard to imagine a more ADD-afflicted, over-promising, under-delivering company than Butterfly Labs, and they're at it again. Afterjust now managing to ship orders that were put in over a year ago for their ASIC miners (with an original fulfillment timeline of three months) and with plenty of more backlogged orders yet to be shipped, Butterfly Labs announced a couple of days ago that it would start takingorders for bulk chip sales. Now, today, they've started a charity called the Bitcoin Development Fund - oh look a SQUIRREL! Butterfly Labs announced this morning on their....