CoinTerra Seeks Out-of-Court Settlement to Class Action Lawsuit
Comments from CoinTerra CEO Ravi Iyengar have been added. A class action lawsuit filed against bitcoin mining hardware manufacturer CoinTerra may end with an out-of-court settlement, as both sides in the case have indicated interest in resolving the case before it moves to court. Ars Technica reported that CoinTerra sought permission from a US judge in a Northern California district court last week to give it more time to arrange mediation talks. The suit was originally launched in April by Lautaro Cline, a customer from Oakland, California who said he received low-quality mining equipment....
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A group of Spaniards filed the first crypto-related class-action lawsuit before the National Court of Spain on an alleged million-dollar scam. The lawsuit targets an individual accused of allegedly scammed over 300 small crypto investors across Spain. Money Stolen Could Amount Up to $3.58 Billion Per El País, the class-action lawsuit claims that an individual named Javier Biosca Rodríguez allegedly scammed over 250 million euros ($298 million) in cryptocurrencies from the investors. The profile of the victims is mixed, starting from domestic employees, retirees, unemployed,....
A class-action lawsuit filed in the Ontario Superior Court of Justice against the now infamous former Bitcoin exchange, Mt. Gox, and its owner Mark Karpeles, is to be dismissed, leaving many Canadian former exchange customers still without their stolen Bitcoins. Mutual agreement. In a notice released on the Charney Lawyers website, the solicitors representing those who filed the lawsuit said a decision was made by all involved parties to dismiss the class-action lawsuit on 17th June 2016, having come to a mutual agreement presumably over the terms of its dismissal. The implications of this....
It is also important to note that, in Canada, the “loser’ of a lawsuit is forced to pay the costs to the winner. In this particular case, that amount would total up to several millions of dollars, which is simply not feasible for most Mt. Gox victims. The Mt. Gox lawsuit is keeping a lot of Bitcoin enthusiasts on edge as of late, as many affected victims are still holding out hope of a [partial] refund. But over in Canada, the class action lawsuit against Mt. Gox has been dismissed, which is not good news at all. Canadian Mt. Gox Lawsuit Dismissed. Albeit there is an official trustee for....
One of the defendants in the class action lawsuit against Cryptsy cryptocurrency exchange, Lorie Ann Nettles enters into a settlement agreement involving liquidation of almost all of her assets. There have been few new developments in the ongoing class action lawsuit against the now defunct cryptocurrency exchange, Cryptsy. The Bitcoin exchange based out of Florida stopped its operations earlier this year. At the time of shutting down, the platform allegedly had accommodated liabilities of over $10 million, of which $5 million belonged to the customers. The class action lawsuit was filed....
This piece has been updated with a statement from CoinTerra regarding the lawsuit filed by C7. CoinTerra is being sued by a Utah data center operator for alleged breach of contract and $1.4m in unpaid services. In court documents, C7 Data Centers alleges that former partner CoinTerra acted in bad faith by intentionally underpaying for services and demonstrating a pattern of late repayment. In total, C7 is seeking $5.4m in damages, court fees and related charges. The court filings follow unconfirmed reports that CoinTerra is seeking to resolve problems with unknown senior debt holders.....