Bursor & Fisher P.A. Announces Pendency of Federal Securities Claims Against BlockFi, BlockFi, Inc., BlockFi Trading, LLC, and BlockFi Lending, LLC (collectively “BlockFi”) Regarding BlockFi Interest Accounts and Related Lead Plaintiff Deadline

NEW YORK--(BUSINESS WIRE)--Bursor & Fisher, P.A., a consumer rights litigation firm, announces that a lawsuit is pending in the Superior Court of New Jersey, Law Division, Hudson County and in the District of New Jersey that alleges that BlockFi engaged in the unlawful offer and sale of securities in violation of Sections 5(a) and 5(c) of the Securities Act of 1933 (“Securities Act”) by selling the BlockFi Interest Account accounts (“BIAs”) to investors. 15 U.S.C. §§ 77e(a) and 77e(c). The lawsuits allege claims for Unregistered Offer and Sale of Securities in Violation of Sections 5 of the Securities Act, violation of the New Jersey Uniform Securities Law, violation of the California Corporations Code, and Unjust Enrichment. The lawsuit captioned Leifman v. BlockFi, et al., is pending under docket number HUD-L-000700-22 in the Superior Court of New Jersey, Law Division, Hudson County. The lawsuit Mangano v. BlockFi, et al., is pending under docket 2:22-cv-01112-KM-CLW in the District of New Jersey.

The federal securities claims are brought under Sections 5 of the Securities Act, 15 U.S.C. §§ 77e and 77l, on behalf of all persons or entities in the United States who purchased or enrolled in a BIA. The class period for the federal securities claims is March 4, 2019 through the present.

Pursuant to the Private Securities Litigation Reform Act (“PLSRA”), 15 U.S.C. § 77z-1(a)(3)(A)(i)(II), any member of the purported class seeking to serve as lead plaintiff of the purported 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.

If you wish to discuss this action, Andrew Obergfell of Bursor & Fisher, P.A. may be contacted at 646-837-7150 or through [e-mail].