Block.one co-founder and 2020 U.S. presidential candidate Brock Pierce has been served papers at his recent New York City rally.
The lead plaintiffs had filed incomplete and inaccurate information with the court, including unsubstantiated accusations against Block.one.
Plaintiffs claim Block.one purposefully provided investors with false and misleading information about EOS to draw more investors.
A New York law firm last Friday filed class action suits against 11 well-known companies in the digital asset industry.
The rewards-based social network being developed by Block.one has reportedly switched away from running on the EOS public blockchain.
The CryptoTime podcast explores how ICOs are getting away with unscrupulous practices and only getting slapped on the wrist.
The regulator has settled with Block.one which it had accused of raising $4.1 billion in an unregistered ICO, and resolving all matters between the two