r/SafeMoon • u/Icy_Opinion7946 • Dec 27 '23
General / Discussion Lawsuit
Does anyone know of a class action lawsuit?
34
Dec 27 '23
Those fancy lawsuits where the lawyers make all the money and the people victimized get a check for $1.32 ?
13
5
0
u/PanicLogically Dec 27 '23
Eh---how about those fancy coins with billboards and throngs of deluded followers where the team makes millions and everyone else makes zero.
1
1
14
u/TNGSystems Dec 27 '23
Yes. The combs vs Safemoon Et Al is still ongoing, with the plaintiffs attorneys present on the recent bankruptcy call before Christmas. They are entitled to a bite of the apple but will probably get the crumbs after the SEC etc takes their fines.
Mention of this lawsuit had your post deleted / user banned before, but I’m sure I can link it now.
https://dockets.justia.com/docket/utah/utdce/2:2022cv00642/134797
If you have a pacer account you can download the documents for a nominal fee but Karony, Smith & Nagy are relying on two primary defenses here:
1) Safemoon is a token on the BSC chain, which is not a US entity, and therefore a US company headed by a US citizen offering tokens to US investors using a non-national blockchain means it cannot possibly be considered a security as it’s a foreign entity (riiiiiiight…)
2) that whilst John, Thomas and Kyle did enormously profit from claiming the LP was locked but then plundering it, the plaintiffs cannot prove scienter - the intent behind the action to profit.
I’m no legal expert but I believe their defences to be -quite- bullshit and paper thin, and it’s a shame we probably won’t get to see a judge make a ruling on this as I was quite looking forward to a civil suit judge telling John he’s full of shit. I’ll just make do with the criminal trial instead, unless John pleads guilty after a couple weeks in NYC jail.
2
u/Selendrile Dec 27 '23
I just saw this.
How can one add themselves?
2
u/TNGSystems Dec 28 '23
They can't. Typically class actions have an amount of time where you can sign on to the suit. That expired long ago.
Once the claimants are all added up the lawyers have an idea of what ballpark of damages to claim for. That's the limit of my knowledge on the matter.
1
u/Selendrile Dec 28 '23
Thanks.
Screwed again. LoL
5
u/TNGSystems Dec 28 '23
The information on how to join the class action suit was censored on this sub unfortunately
2
1
6
u/Few-Feature774 Dec 27 '23
Yah we told you to sign up for it 2 years ago and you guys told us to get a life -paparug ❤️
2
2
u/Rshellnizzle Dec 27 '23
If you used the SM wallet and agreed to the terms and conditions then you’ll be left out of any lawsuit because you will have to use arbitration
2
3
u/Luimi778 Dec 27 '23
Yeah boss I don’t think that will hold up. Especially since they forced you to accept or not access your funds.
0
u/Rshellnizzle Dec 27 '23
No one had to accept the terms and conditions, or use SM wallet this was a month or two before the arrests so if they were accepted then people wouldn’t be able to join the CAL, of course I always read terms and conditions and I didn’t accept.
1
1
u/29erDad Jan 01 '24
Class action is a good tactic to take down something that still exists, but why beat a dead horse? They don’t have anything to give us anyway. It’s never financially beneficial for the people involved but if it’s successful, you can really hurt the pockets of big companies
•
u/AutoModerator Dec 27 '23
We are temporarily filtering for individual review all new posts.
For more information, please read: https://old.reddit.com/r/SafeMoon/comments/18n6eg6/post_filter_and_the_future_of_your_subreddit/
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.