Butterfly Labs Attempts to Dismiss FTC Complaint
Three weeks ago, the Federal Trade Commission shut down Butterfly Labs. Butterfly Labs is a company that sells Bitcoin mining hardware. It's been accused of scamming and lying to customers time and time again. Recently, the Federal Trade Commission (FTC) reported that Butterfly Labs was lying to customers in multiple ways, one being that they mined on their customers' hardware for extended periods of time before shipping it. This morning, Butterfly Labs tried to dismiss the FTC's complaint. Also read: FTC Shuts Down Butterfly Labs... Finally. The FTC claims that Butterfly Labs spent their....
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Embattled mining hardware company Butterfly Labs has filed a motion to dismiss a Federal Trade Commission (FTC) complaint against the company. Butterfly Labs (BFL) was shut down by the FTC last month following numerous claims of public misrepresentation and downright fraud. However, in spite of nearly 300 customer filings against the company, BFL still insists it is the victim of overzealous regulators and intends to resume limited operations in the near future. The sentiment is evident in the opening remarks of the latest filing, in which the company alleges the FTC headed a
The Federal Trade Commission (FTC) has caused Kansas-based Butterfly Labs (BFL) more than a few problems as of late. Having previously succeeded in halting the BFL's operations, the FTC wants justice for the consumers they represent who claim to have received products extremely late and not as described. Butterfly Labs, on the other hand, just wants to be the entire situation behind themselves and continue their business of manufacturing cryptocurrency mining hardware. In fact, the company is looking to have the FTC's complaint dismissed, according to a lengthy statement released today....
Butterfly Labs argued successfully in court yesterday that the order to remain closed had irreparably harmed their company, convincing the Judge to agree to allow them to continue operations under court oversight. The company, which produces Bitcoin mining equipment, was closed down in September after allegations that it had failed to deliver products on time to its customers and that it had used their customer’s equipment to profit from mining. "The Butterfly Labs web site pages attached to (the FTC complaint) instead show a pattern of consistently updated shipping projections,....
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 was one of the very first mining firm is now in deep trouble as US Goverment is taking legal actions against them. Butterfly Labs was accused of fraud and misrepresentation. FTC documents say that the companies assets were frozen. The story began with really upset customers who failed to received their pre paid miners. Butterfly Labs has violated Section 5(a) of the FTC Act. BFL were basically engaging in “unfair or deceptive business practices in or affecting commerce”. We have contacted butterfly Labs to get some information regarding the shut down but they said