SEC may pay a reward for information about Tezos

By | November 23, 2017

SEC may pay a reward for information about Tezos

The law firm urges investors to help her to investigate the case of Tezos and recalls that the US financial authorities pay a reward for providing information that will help to return money to investors.

US-based national investor-rights law firm Hagens Berman stated that it is investigating the case of the Tezos project, whose investors accuse its founders of misleading and violating US securities laws.

Tezos founders took advantage of the recent enthusiasm for cryptocurrencies and collected over $232 million worth of bitcoin and Ethereum from investors, the law firm writes in its statement. But then, “the Tezos project has stalled, and it’s now unclear that the investors will receive their Tezzies or XTZ anytime soon, as the Tezos founders and Dynamic Ledger Solutions, Inc. (DLS) are now engaged in a public fight for control over the Tezos Foundation, a Swiss foundation.”

The situation resulted in a significant damages and losses of investors.

“Not only did the Defendants disregard the SEC’s registration requirements but the delay in the launch of Tezos token has forced investors to helplessly watch as their funds are tied up by people skirting the law,” said Hagens Berman partner Reed Kathrein.

The law firm claims that the Texos founders knew that they must comply with US securities legislation, including, obligatory registering of Tezos tokens with the Securities and Exchange Commission (SEC).

The release of Tezzies tokens has been postponed until February 2018, and the project’s founders, Arthur and Kathleen Breitmans, are fighting for control of the Swiss fund Tezos Foundation, which manages all funds raised during the course.

Hagens Berman encourages anyone who owns interesting and non-public information about ICO Tezos, to help its layers in their investigation or to join the program of whistleblowers of SEC. According to this program, persons, whose information will help to recover the funds of investors, can claim a reward of up to 30% of the amount refunded.

The Tezos project during the crowdsdale in July 2017 collected $232 million.

Published at Thu, 23 Nov 2017 10:26:28 +0000