CORAL SPRINGS, Fla., Jan. 7, 2019 /PRNewswire/ -- Silver Miller (www.SilverMillerLaw.com) and Levi Korsinsky, LLP (www.zlk.com) have commenced a class action lawsuit on behalf of investors in Nano f/k/a RaiBlocks (XRB), alleging that Nano and key members of its core team violated federal securities laws. The Complaint further alleges that, in their push to introduce XRB to a wide market of investors, the defendants recklessly directed investors to open accounts and place their assets with a little known, and severely troubled, Italian cryptocurrency exchange called BitGrail, where $170 million of the investors' XRB allegedly "disappeared" in February 2018. A copy of the Complaint, styled Fabian v. Nano f/k/a RaiBlocks, et al., U.S. Dist. Ct. - N.D. Cal. - Case No. 3:19-cv-00054 (the "Lawsuit"), can be viewed HERE.
Any member of the putative class may move the Court to serve as lead plaintiff through counsel of his/her/its choice, or may choose to do nothing and remain an absent class member. If you wish to serve as lead plaintiff, you must move the Court to appoint you by no later than March 8, 2019. If you wish to discuss the Lawsuit or have any questions concerning this notice, or your rights or interests as they relate to the Lawsuit, please contact David Silver of Silver Miller [Telephone: (954) 516-6000; [email protected]].
The Complaint further alleges that Nano and its core team engaged in an unregistered offering and sale of securities that violated federal securities laws, including Sections 12(a) and 15(a) of the Securities Act of 1933, and wrongly directed investors to BitGrail. The Lawsuit asks that the Court rescind the plaintiff class' investments in XRB and require Nano to "rescue fork" the allegedly missing XRB into a new cryptocurrency in a manner that would fairly compensate the class of victims.
Silver Miller – winner of The Daily Business Review's 2018 Most Innovative Law Practice for its work protecting consumer rights -- continues to be a strong advocate for aggrieved investors harmed by the misrepresentations and illegal actions of crypto exchanges and issuers. The firm remains at the forefront of investment fraud litigation.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. In particular, Levi & Korsinsky has been appointed as lead or co-lead counsel in several securities class actions arising from cryptocurrency offerings, and is prosecuting these cases in several courts across the country.
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SOURCE Silver Miller