Amendment Combines
All Lawsuits Into a Single Case
The consolidated complaint comprises a class action suit that’s been filed on behalf of a selection of individuals and entities. All parties in the lawsuit claim to have suffered financially after transferring cryptocurrencies and fiat currencies to Bitconnect to invest in BCC tokens, as well as the Bitconnect Investment Programs.
According to lawyer David Silver of law firm Silver Miller, which has been named the”Class Counsel” of this case, the consolidated complaint combines all of the lawsuits that have been filed against Bitconnect into a single suitbitcoin dragon casino game bitcoin casino no deposit bonus december 2016 usa Miller said that the consolidated lawsuit also names Bitconnect owners and promoters which were not previously targeted at the first complaints.
“As more information has become available, we have learned about more individuals involved in the rampant fraud associated with Bitconnect,” Silver explained and best bitcoin casino reddit. “The Amended Consolidated Class Action Complaint highlights those celebrities who participated in the creation of Bitconnect and the promoters of Bitconnect. The amount of fraud, and the total amount of investment loss in such a short time period is staggering. We expect to move the litigation along as fast as possible and hold as many individuals accountable both in america and abroad.”
Plaintiffs Accuse Youtube of Negligence
The amended lawsuit claims the Bitconnect Lending Program and the Bitconnect Staking Program were “fraudulent Ponzi/pyramid schemes.” It also accuses the company of using”multilevel affiliate markets” to promote its investment programs.
“Several of the promoter defendants had partnerships with Youtube pursuant to which the Bitconnect Defendants disseminated fraudulent and harmful content to unsuspecting victims throughout the globe,” the law firm mentioned in the amended filing. “Youtube was negligent in failing to warn those victims of the harmful material, for which Youtube paid their creators and publishers.”
In addition, the legal team claimed that the company”cloaked” its promotional materials from”technological sophistication and jargon” to run a deceptively”simple” deceptive operation. “Victims would put money into the Bitconnect Investment Programs after they had been driven to Bitconnect as a result of lucrative partnerships the promoter defendants had with Youtube,” it stated. “Bitconnect would then pay present investors with new money from new investors, who were in turn expected and incentivized to get more new investors to produce more new money for Bitconnect.”
The plaintiffs seek to recover all of the funds they claim to have lost. In a statement, Miller said such an outcome would be”ideal.”
Do you agree that Youtube was negligent in compensating Bitconnect promoters and failing to warn prospective investors of the”harmful content?” Share your thoughts in the comments section below!
Pictures courtesy of Shutterstock
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Source: bitcoincasinoreview.info
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