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Lawsuits

Samsung under fire for its Australian advertising

Sponsored Links Provided by ACCC Samsung is being sued by an Australian consumer watchdog over misleading claims in its advertising. The ads showed people swimming in pools and surfing in the ocean with their Galaxy phones, leading customers to think that they could safely swim or surf with their devices. Despite what the marketing materials …

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Mt Gox Founder Hit With Lawsuit Over Alleged Fraudulent Misrepresentation

Jed McCaleb, the founder of Mt. Gox, faces a lawsuit over his handling of the now-defunct bitcoin exchange. The two plaintiffs, former Mt. Gox traders Joseph Jones and Peter Steinmetz, filed a complaint with a court in California on May 19, accusing McCaleb of “fraudulent” and “negligent” misrepresentation of the exchange, which partially led to …

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Ex-Employee Sues Startup Behind Zcash for $2M Over Unpaid Stock

A former employee, Simon Liu, is suing the former Zerocoin Electric Coin Company for $2 million over unpaid shares, breach of contact, and damages, according to court documents filed on May 29. Zerocoin is the organization behind the popular cryptocurrency Zcash (ZEC). The complaint, filed in the Superior Court of California for the County of San Francisco, …

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The SEC Case Against Kik’s ICO Appears Strong, Experts Say

The U.S. Securities and Exchange Commission has sued messenger app maker Kik for its $100 million ICO – which the agency contends was an unregistered securities sale – and the regulator appears to have built up a strong case in its initial court move. In a complaint filed Tuesday, the SEC alleged that Kik violated federal …

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The 8 Biggest Bombshells From the SEC’s Kik ICO Lawsuit

When Kik’s board of directors decided to support the company’s pivot to crypto, one of the board members described it as a “hail Mary pass.” It was early 2017 and the Canadian mobile messaging startup, having depleted its venture funding, was months away from firing everyone and calling it quits. The seven most promising leads …

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The SEC Is Suing Kik for Its 2017 ICO

The U.S. Securities and Exchange Commission (SEC) is suing Kik for allegedly running an unregistered securities sale when it launched an initial coin offering (ICO) for its kin token in 2017. In a filing submitted Tuesday, the SEC said Kik violated Section 5 of the Securities Act of 1933, which requires offerings to be registered. …

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Judge rejects Musk’s arguments to dismiss “pedo guy” defamation suit

Enlarge VCG/VCG via Getty Images A federal judge in California has rejected Elon Musk’s request to dismiss a defamation lawsuit filed by Vern Unsworth, a British caver who aided with the rescue of a dozen boys in Thailand last year. Musk’s lawyers had argued that his remarks describing Unsworth as a “pedo guy” were mere …

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Uber sued for ‘hundreds of millions’ in Australian class action

Sponsored Links SIPA USA/PA Images Uber is no stranger to lawsuits on any continent, but a new class action filing from four Australian states looks set to become one of the largest in the country’s history. Law firm Maurice Blackburn filed the suit at the Victoria Supreme Court on behalf of drivers, operators and licence …

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Family of deceased Model X owner sues over 2018 crash

Enlarge / The charred remains of Walter Huang’s Tesla Model X. S. Engleman / NTSB The family of deceased Model X customer Walter Huang has sued Tesla and the state of California in state court, the family’s attorneys announced on Wednesday. “Mrs. Huang lost her husband, and two children lost their father because Tesla is …

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Winklevoss Capital, Charlie Shrem Settle $26 Million Bitcoin Lawsuit

Cameron and Tyler Winklevoss have settled their lawsuit against fellow early bitcoin entrepreneur Charlie Shrem, whom they previously claimed owed them $26 million worth of the cryptocurrency. In an April 5 court filing, Judge Jed Rakoff of the U.S. District Court for the Southern District of New York dismissed the case, explaining that the parties …

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