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.
Bitstocks’ CryptoTime discusses ICO fines and scandals
SEC settles with EOS parent company for $24M in penalties for unregistered ICO
Mike Novogratz dumps Block.one shares, pockets $71 million