Amendment Combines
All Lawsuits Into a Single Instance
The complaint comprises a class action suit that has been registered on behalf of a selection of individuals and entities. All parties in the lawsuit claim to have suffered financially after transferring fiat monies and cryptocurrencies to Bitconnect to invest in BCC tokens, in addition to the Bitconnect Investment Programs.
According to attorney David Silver of law firm Silver Miller, which was named the”Class Counsel” of this case, the consolidated complaint combines all of the lawsuits which have been filed against Bitconnect into a single lawsuitTrusted betchain casino Miller said that the new lawsuit also names Bitconnect owners and promoters that weren’t previously targeted in the initial legal complaints.
“As more information has become available, we have learned about more people involved in the rampant fraud connected 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 total amount of investment loss in a brief period of time, and the quantity of fraud is staggering. We expect to move the lawsuit along as fast 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 deceptive and harmful content to unsuspecting victims across 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 were driven to Bitconnect as a result of profitable partnerships that the promoter defendants had with Youtube,” it stated. “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 cash 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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