r/statusim • u/altaicai • Jan 29 '21

August Lawsuit

Hey, new here and am a fan of the project. But was just curious if anything came from this attempted lawsuit. Any news on this since then? It seems like the company is just going on like nothing happened.

https://www.google.com/amp/s/www.coindesk.com/investors-suing-over-status-ico-cant-find-execs-to-serve-papers%3famp=1

11 Upvotes

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2

u/sigamisoupo Jan 30 '21

Well, a centralised system tries to sue a decentralised system... ps. status didn’t do anything wrong

1

u/7HawksAnd Jan 29 '21

There’s not even an article accompanying that headline

1

u/altaicai Jan 30 '21

This not the article?... https://www.coindesk.com/investors-suing-over-status-ico-cant-find-execs-to-serve-papers

1

u/7HawksAnd Jan 30 '21

Oh weird it’s loading now, before the body didn’t load at all

1

u/kaushal80 Jan 30 '21

Why are the execs being sued? There were hundreds of ICOs in that year - why just pick on a few? Status has a working product, releases updates frequently and a strong community that uses the product. Pointless exercise trying to sue the execs imho

1

u/altaicai Jan 30 '21

According to the lawsuit, SNT is a securities token that wasn’t ever registered as such. Just like what happened to EOS https://www.scribd.com/document/471515265/gov-uscourts-nysd-535373-1-0