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 way of 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In a unanimous, unpublished determination, the panel mentioned that the New York federal courtroom was mistaken to use the U.S. Supreme Courtroom’s 2010 case Morrison v. Nationwide Australia Financial institution, which limits the applying of Part 10(b) of the Securities Change Act to transactions listed on home exchanges and home transactions in different securities….
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