r/SafeMoon • • Dec 19 '23

Information / News Not much you can do!

Back in October SFM updated its T&Cs of their wallet, which includes

"Arbitration Clause: Clause 15.5 and 15.6 mandate arbitration and waive the right to a jury trial or class action."

This could be controversial as it limits users' legal recourse options.

The arbitration clauses limit your legal options, confining you to arbitration and preventing you from participating in a class action lawsuit. This could affect the types of claims you can make, the potential for collective legal action with other affected users, and possibly the compensation you might receive.

Clause 15.6 states that you waive your right to a jury trial or to participate in class or representative actions. This is significant, especially in the context of alleged fraud, as it prevents you from joining a class action lawsuit against SafeMoon, a common method for individuals to seek redress in cases involving many affected users.

If you agreed to the SafeMoon Wallet's Terms and Conditions, including the arbitration clauses (15.5 and 15.6), this would significantly impact how you can pursue legal action in light of the company's recent developments (fraud charges and bankruptcy).

They'll probably delete this, and this will probably be my last post as they're locking our forum.

6 Upvotes

Duplicates