Lawyer's point of view: The 11 class actions against the crypto industry will be a protracted battle

For a long time, encryption lawyer Richard B. Levin has always considered that class actions related to ICOs are "new areas." Last Friday, the Roche Freedman law firm filed 11 new class actions against the crypto industry in the Southern District of New York. Levin believes that the latest class action lawsuit may last for several years and exhaust some of the funds raised by some of these companies from the token issuance. He said: "Withdrawing the lawsuit is a very effective remedy. I do not believe that the court will dismiss these cases, nor do I believe that the court will move the summary judgment on behalf of the plaintiff or the defendant. Because the dozens mentioned in the lawsuit The defendants are distributed in 16 different countries / regions. "He also believes that the lawsuit will" shadow "all the digital assets mentioned. It is reported that the lawsuits of Roche Freedman Law Firm are Binance, Civic, BProtocol, Status, Block.one, KayDex, Quantstamp, BiBox, TRON Foundation, KuCoin, HDR Global Trading and their related persons, including Brendan Blumer, Dan Larimer , Vinny Lingham, Zhao Changpeng. It is difficult to summarize 11 specific complaints, but the core of the litigation is that the plaintiff believes that the relevant defendant violated the securities laws and that investors include US citizens.