Levi & Korsinsky appointed Co-Lead Counsel in Class Action Against Bitconnect

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Published June 21, 2018


On June 19, 2018, United States District Court Judge Ronald M. Middlebrooks appointed Levi & Korsinsky, LLP to serve as Co-Lead Counsel in the consolidated class action lawsuit entitled In re Bitconnect Securities Litig., Case No. 9:18-cv-80086-DMM (S.D. Fla.).

The class action alleges that Bitconnect International PLC, Bitconnect Ltd., and Bitconnect Trading Ltd. (collectively, “Bitconnect”), a cryptocurrency startup, and certain of its executives and affiliate promoters operated fraudulent Ponzi/pyramid schemes in violation of numerous consumer protection laws and securities laws by offering and selling investment contract securities that were not registered with the U.S. Securities and Exchange Commission. The firm looks forward to representing those investors alleged to have been harmed by this conduct and achieving a positive result in this lawsuit on their behalf.

Levi & Korsinsky has been at the forefront of cryptocurrency-related securities litigation, including representing shareholders who suffered losses as a result of securities laws violations related to initial coin offerings and the issuance of unregistered securities, as well the issuance of misleading information to investors. On May 10, 2018 and April 11, 2018, respectively, the firm was appointed Lead Counsel in Davy v. Paragon Coin, Inc., 4:18-cv-00671-JSW (N.D. Cal.), and Rensel v. Centra Tech, Inc., 1:17-cv-24500-JLK-AMS (S.D. Fla.) to represent investors in Paragon Coin, Inc.’s and Centra Tech, Inc.’s allegedly unlawful offer and sale of unregistered securities in connection with their initial coin offerings.

For more information about the Bitconnect lawsuit, please contact Levi & Korsinsky attorneys Eduard Korsinsky, Rosemary M. Rivas, Donald J. Enright and John A. Carriel.