{"id":729,"date":"2017-11-15T00:00:00","date_gmt":"2017-11-15T00:00:00","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/media-coverage\/tezos-founders-hit-with-second-class-action-suit\/"},"modified":"2023-06-12T13:27:08","modified_gmt":"2023-06-12T13:27:08","slug":"tezos-founders-hit-with-second-class-action-suit","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/tezos-founders-hit-with-second-class-action-suit\/","title":{"rendered":"Tezos Founders hit With Second Class Action Suit"},"content":{"rendered":"<p>For the second time in less than three weeks, a lawsuit has been filed against the founders of the Tezos project.<\/p>\n<p>Pursued in the U.S. District Court in Florida, the suit alleges Tezos founders Arthur and Kathleen Breitman deceptively sold unregistered securities in violation of both federal and state law when they\u00a0<a href=\"https:\/\/www.coindesk.com\/232-million-tezos-blockchain-record-setting-token-sale\/\">raised $232 million<\/a>\u00a0in an initial coin offering (ICO) in July.<\/p>\n<p>The filing names the husband-and-wife pair, the Tezos Foundation and Dynamic Ledger Solutions \u2013 the Delaware-based company that holds Tezos&#8217;s intellectual property \u2013 as defendants. Further, it accuses them of\u00a0fraudulently and deceptively marketing the sale of the platform&#8217;s native token &#8220;Tezzies&#8221; as charitable contributions and then pocketing &#8220;tens of millions of dollars&#8221; for themselves.<\/p>\n<p>&#8220;Notwithstanding the defendants&#8217; attempts to avoid governmental and private scrutiny, it is clear that the financiers were indeed profit-seeking investors in a security and that Defendants promoted and conducted an unregistered offering of securities, not a charitable fundraiser,&#8221; the complaint reads.<\/p>\n<p><strong>The new complaint\u00a0filed by David Silver, a partner at Silver Miller in south Florida, echoes and expands upon allegations laid out\u00a0<a href=\"https:\/\/www.coindesk.com\/tezos-founders-sued-securities-fraud-potential-class-action\/\">in a separate class action suit<\/a>\u00a0filed in California on Oct. 25, which came just days after the dispute between the Breitmans and Gevers went public.<\/strong><\/p>\n<p><a href=\"https:\/\/www.coindesk.com\/tezos-founders-hit-second-class-action-suit\/\">Read the rest of the article.<\/a><\/p>\n","protected":false},"featured_media":1769,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[],"class_list":["post-729","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Tezos Founders hit With Second Class Action Suit - SilverMillerLaw.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/tezos-founders-hit-with-second-class-action-suit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tezos Founders hit With Second Class Action Suit - SilverMillerLaw.com\" \/>\n<meta property=\"og:description\" content=\"For the second time in less than three weeks, a lawsuit has been filed against the founders of the Tezos project. 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