NEW YORK--(BUSINESS WIRE)--Roche Cyrulnik Freedman LLP and Selendy & Gay PLLC, elite litigation law firms based in New York, announce that a lawsuit is pending in the Southern District of New York that alleges that BProtocol Foundation and certain officers of BProtocol Foundation (collectively, “Defendants”) violated federal and state securities laws by offering and selling digital tokens without a registration statement in effect for the securities it was offering and selling. The proposed class includes all persons who purchased Bancor Network Tokens (BNT) between June 12, 2017 and the present (the “Class Period”). The lawsuit, captioned Zhang v. BProtocol Foundation et al., is pending under docket number 1:20-cv-02810-AKH and seeks rescission and damages.
The federal securities claims are brought under Sections 5, 12(a)(1), and 15 of the Securities Act of 1933, 15 U.S.C. §§ 77e, 77l(a)(1), 77o. The state securities claims are brought under N.J. Stat. Ann. § 49:3-71.
Pursuant to the Private Securities Litigation Reform Act, 15 U.S.C. § 77z-1(a)(3)(A)(i)(II), any member of the proposed class seeking to serve as lead plaintiff of the proposed class shall, no later than 60 days after the date on which this notice is published, move the Court for appointment as lead plaintiff and approval of lead plaintiff’s selection of lead counsel. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class. If you purchased BNT during the Class Period, you have until June 8, 2020 to ask the Court to appoint you as lead plaintiff for the class.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain a lawyer. You may retain counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
If you wish to discuss this action, your potential claims, or have any other questions concerning this notice or your legal rights or interests, please contact plaintiff’s counsel:
Roche Cyrulnik Freedman and Selendy & Gay have significant experience in prosecuting major securities actions, including in the crypto-asset space, and have collectively recovered billions on behalf of clients. Both firms represent plaintiffs and defendants worldwide and are part of the team appointed interim lead counsel in the lawsuit concerning digital assets captioned Leibowitz et al v. iFinex Inc. et al, pending in the Southern District of New York under docket number 1:19-cv-09236.
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