Investors fight to keep Bancor securities case out of Israeli court
“Defendants say, in passing, that Israel is the more appropriate forum, but fail to provide any supporting detail,” stated lawyers in the class-action suit. Lawyers representing investors for BProtocol Foundation, the parent company of decentralized liquidity network Bancor, are asking for the case against the blockchain firm to be tried in the United States. According to court records filed Nov. 2 in the U.S. Southern District of New York, lawyers for Timothy C. Holsworth, the lead plaintiff in the class-action lawsuit against BProtocol, argued that the firm’s executives’ “repeated and....
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Lawyers argued the complaint was “based on a man in Wisconsin using an exchange in Singapore to purchase tokens issued by a Swiss entity.” The legal team for a crypto firm facing possible securities law violations is asking for the case to be dismissed on geographical grounds. According to court records filed Oct. 13 in the U.S. Southern District of New York, lawyers for blockchain firm BProtocol Foundation argued that a court outside the U.S. would be more suited to oversee the case due to the “international” nature of the complaint. The BProtocol Foundation legal team said the complaint....
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