All Lawsuits Into a Single Case
The consolidated complaint comprises. All parties in the lawsuit claim to have suffered after transferring fiat currencies and cryptocurrencies to Bitconnect to invest in the Bitconnect Investment Programs, in addition to BCC tokens.
According to attorney David Silver of law firm Silver Miller, which was named the”Class Counsel” of this situation, the consolidated complaint combines all of the lawsuits that were filed against Bitconnect into a single suitOshi Casino site Miller stated that the new merged lawsuit also names promoters and Bitconnect owners that were not previously targeted at the initial complaints that were legal.
“As more information has become available, we’ve 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 actors who participated in the creation of Bitconnect and the promoters of Bitconnect. The quantity 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 quickly as possible and hold as many individuals accountable both in the United States 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.” In addition, it accuses the company of using”multilevel affiliate markets” to market 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 across the globe,” the law firm stated in the amended filing. “Youtube was negligent in failing to warn those victims of the harmful content, for which Youtube paid their creators and publishers.”
Additionally, the legal team claimed that the firm”cloaked” its promotional materials from”technological sophistication and jargon” to run a deceptively”simple” deceptive operation. “Victims would invest in the Bitconnect Investment Programs after they were driven to Bitconnect because of lucrative partnerships the promoter defendants had with Youtube,” it said. “Bitconnect would then pay existing investors with new money from new investors, who were in turn expected and incentivized for more new investors to produce more new money for Bitconnect.”
The plaintiffs seek to recover the funds all they claim to have dropped. In a statement, Miller said this 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!
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