Silver Miller Files Lawsuit Against Cryptocurrency Mining Company Giga Watt
Mar 22, 2018, 10:52 ET
CORAL SPRINGS, Fla., March 22, 2018 /PRNewswire/ -- Silver Miller (www.SilverMillerLaw.com) has commenced a new federal court lawsuit on behalf of an investor in the 2017 pre-functional Initial Coin Offering (ICO) promulgated by Washington-based cryptocurrency mining company Giga Watt, alleging that Giga Watt violated securities laws by selling investments in its cryptocurrency mining farm without registering those investments with the necessary regulatory entities. Moreover, the lawsuit alleges that as Giga Watt failed to timely issue its cryptocurrency tokens and provide the plaintiff the benefit for which he paid, the plaintiff suffered financial loss in excess of a million dollars. The lawsuit, styled Moss v. Giga Watt, U.S. Dist. Ct. - E.D. Wash. - Case No. 2:18-cv-00100, pleads that the Court rescind the plaintiff's investments in Giga Watt; return to him his cryptocurrency; and impose a constructive trust over the funds and assets collected by Giga Watt that were invested by the plaintiff and other investors. Anyone who invested in Giga Watt and did not receive all of the benefits they were promised should contact Silver Miller immediately to discuss their legal options.
In recent months, it has become apparent that government officials will no longer tolerate unregistered ICO fundraisers like Giga Watt's because such crowdfunded events lack the protective measures needed to prevent widespread fraud upon the investing public. Following a path Silver Miller has blazed for several years, lawmakers around the country are increasing their scrutiny of past, present, and future actions in the cryptocurrency industry to shield investors from fraud or empty promises of wealth that enrich no one but the company making those hollow promises.
Silver Miller -- the leading cryptocurrency investor law firm in America -- continues to be a strong advocate for aggrieved cryptocurrency investors harmed by the misrepresentations and illegal actions of digital asset exchanges, trading platforms, and ICO promoters. With actions pending against the Coinbase, Kraken, BitConnect, and Cryptsy exchanges as well as lawsuits against pre-functional token ICO promoters Tezos and Monkey Capital, Silver Miller is at the forefront of cryptocurrency litigation and fights to protect investors where government regulators have not yet tread.
For more information about the lawsuit -- or if you are a Giga Watt investor concerned about your investment -- please contact David C. Silver, Silver Miller - Managing Partner at (954) 516-6000 or [email protected].
SOURCE Silver Miller