By Dave Simpson (October 4, 2021, 10:53 PM EDT) — The Second Circuit revived a swimsuit Monday alleging that the executives behind the failed cryptocurrency Helbiz raised $38.6 million by the sale of its coin and guarantees to innovate city transportation leases, solely to renege on the promise and decline to return the cash to the unique patrons.
In a unanimous, unpublished choice, the panel mentioned that the New York federal courtroom was improper to use the U.S. Supreme Courtroom’s 2010 case Morrison v. Nationwide Australia Financial institution, which limits the appliance of Part 10(b) of the Securities Trade Act to transactions listed on home exchanges and home transactions in different securities….
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