Butterfly Labs Doesn't Believe Class-Action Lawsuit Has Any Merit
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....
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Missouri-based Wood Law Firm announced today that customers from across the United States have come together and filed a class-action lawsuit in the United State District Court for the District of Kansas which challenges both the sales and advertising practices of Butterfly Labs, a bitcoin mining hardware company based in Kansas. The lawsuit seeks to recover pre-order payments made for bitcoin miners that either did not fit the description of what was originally stated or that were delivered far long after initially announced by the company. Says Wood Law Firm in their announcement: The....
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....
Following the Terra stablecoin depegging incident, a class-action lawsuit has been filed against the company Terraform Labs and a number of other crypto companies over the collapse of terrausd (UST). The case against Terraform Labs (TFL) was filed by the plaintiff Nick Patterson on behalf of others similarly situated and the law firm Scott+Scott LLP.
A Class-Action Lawsuit Has Been Filed Against TFL and Affiliated Firms — Plaintiffs Claim Terra-Based Tokens Were Unregistered Securities
According to recently filed documents in the U.S. District Court in Northern....
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....
Embattled bitcoin mining manufacturer Butterfly Labs has announced that it will resume limited business operations following discussions with the Federal Trade Commission (FTC). The Missouri-based company will not be allowed to serve new consumers when it reopens, and will be restricted to fulfilling existing customer orders. Butterfly Labs further confirmed it will remain under the direction of a court-appointed receiver who will oversee the business. Butterfly Labs suggested that it aims to use this opportunity to rebuild its market perception, which it acknowledged has been impacted by....