2nd Circ. Revives $ 38.6 Million Helbiz Crypto ICO Fraud Suit

By Dave Simpson (Oct 4, 2021, 10:53 p.m. EDT) – The Second Circuit on Monday relaunched a lawsuit alleging that the leaders behind the failing cryptocurrency Helbiz raised $ 38.6 million from the sale of its coin and pledges to innovate in the rental of urban transport, to go back on the promise and refuse to return the money to the initial buyers.

In an unreported unanimous decision, the panel said the New York federal court erred in applying Morrison v. National Australia Bank of 2010 of the United States Supreme Court, which limits the application of Section 10 (b) of the Securities Exchange Act to transactions. listed on national stock exchanges and national transactions in other securities ….

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