The judge dismisses the proposed class-action lawsuit accusing Coinbase of selling unregistered securities
Additionally, the clients claimed that Coinbase did not sign up as a broker-dealer. According to a filing on Wednesday, U.S. District Court Judge Paul Engelmayer has dismissed allegations in a proposed class action by clients who assert Coinbase offered them unregistered securities and failed to register as a broker-dealer.
In the Southern District of New York, the dispute is known as Underwood v. Coinbase Global. Brian Armstrong, the CEO of Coinbase, was also included as a defendant.
The plaintiff’s assertions in their revised complaint, which was submitted in March of last year, “included several accusations that contradicted their first Complaint,” according to the New York-based court, which made the decision to dismiss the case.
Although the Underwood class action lawsuit was dismissed, Coinbase currently finds itself in a legal game of whack-a-mole with other class action lawsuits in many jurisdictions, including Georgia and New Jersey.
Source: www.pipsafe.com – The judge dismisses the proposed class-action lawsuit accusing Coinbase of selling unregistered securities
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