Class Action Lawsuit Filed Against Altcoin Nano & Exchange BitGrail

IOT News

Class-Action-Lawsuit-Filed-Against-Altcoin-Nano-Exchange-BitGrail Class Action Lawsuit Filed Against Altcoin Nano & Exchange BitGrailTwo United States law firms, Silver Miller and Levi Korsinsky, LLP, on Monday, Jan. 7th 2019, filed a class action lawsuit on behest of James Fabian, and similarly suited investors in Nano f/k/a RaiBlocks (XRB), alleging the developers and core members of altcoin Nano along with the Italian cryptocurrency exchange BitGrail, to have violated Federal Securities Laws.

The lawsuit filed in the United States District Court for the Northern District of California -Fabian v. Nano f/k/a RaiBlocks, et al., U.S. Dist. Ct. – N.D. Cal. – Case No. 3:19-cv-00054, alleges that the key members of Nano’s core developer team recklessly directed investors to open accounts and place their assets in BitGrail, a little known, and severely troubled exchange. According to the lawsuit, the defendants – Nano f/k/a RaiBlocks f/k/a Hieusys, LLC (“Nano” or the “Company”), Colin LeMahieu (“LeMahieu”), Mica Busch (“Busch”), Zach Shapiro (“Shapiro”), Troy Retzer (“Retzer” and together with Nano, LeMahieu, Busch and Shapiro, the “Nano Defendants”), B.G. Services SRL f/k/a BitGrail SRL f/k/a Webcoin Solutions (“BitGrail”), and Francesco “The Bomber” Firano (“Firano” and together with BitGrail, the “BitGrail Defendants”), – are accused of breach/rescission of contract, breach of fiduciary duty; aiding and abetting a breach of fiduciary duty; fraud; aiding and abetting fraud; negligent misrepresentation; constructive fraud; negligence; unjust enrichment; and conspiracy.

The incident, which came to light when over $180 million in Nano, went missing from the Italian exchange in Feb. 2018, as per a note posted Feb. 9th, 2018, on BitGrail website, stating 17 million Nano being stolen in a hack. Following this hacking incident both BitGrail and Nano accused the other of being responsible for the theft of the tokens.