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SAN DIEGO, May 20, 2020 (GLOBE NEWSWIRE) — The Shareholders Foundation, Inc. announces that several investors in EOS digital tokens offered by Block.one filed a lawsuit against blockchain software firm Block.one over alleged Securities Laws Violations.
Investors, who purchased EOS digital tokens between June 26, 2017 and April 3, 2020 offered by Block.one, might have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The plaintiffs allege that June 26, 2017 through the present, Block.one and individuals Brendan Blumer and Dan Larimer promoted, offered, and sold an unregistered security called “EOS” throughout the United States, in violation of federal and state securities laws. The plaintiffs say that starting in June 2017 and over the course of almost a year, Block.one sold 900 million EOS cryptocurrency tokens in the United States and other countries, while at no time registering its offering with the Securities and Exchange Commission, as required by U.S. securities law, nor seeking an exemption from registration (for which it did not qualify). The plaintiff alleges that Block.one profited handsomely but ultimately left investors holding little more than crypto-dust.
In September 2019, the Securities and Exchange Commission issued a cease-and-desist order against further sale of Block.one’s tokens, determining they were securities under the law and had been sold without proper registration.
Those who purchased EOS digital tokens between June 26, 2017 and April 3, 2020 offered by Block.one, might have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.