Hagens Berman filed a class action in the Superior Court of California, County of San Mateo, which was later transferred to the San Francisco Superior Court, on behalf of investors to recover the bitcoin (BTC), Ethereum (ETH) and fiat currency paid in the Tezos Initial Coin Offering (“ICO”).
The complaint, which names Defendants Dynamic Ledger Solutions, Inc. (DLS), Tezos Stiftung (aka the “Tezos Foundation”), Kathleen Breitman, Arthur Breitman, Timothy Cook Draper, Draper Associates V Crypto LLC, alleges that Defendants illegally sold unregistered securities in violation of Sections 5(a), 5(c), and 12(a) of the Securities Act of 1933. In doing so, Defendants collected approximately $232 million USD worth of cryptocurrencies from investors (primarily Bitcoin and Ethereum).
