2018-7-27 12:01 |
Finance
Cornerstone Research, an economic and financial consulting company, has published a report finding that more than 6% of the securities class action filings made in 2018 have related to initial coin offerings (ICOs) and cryptocurrencies.
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6% of Securities Filings in 2018 Have Related to ICOs
According to Cornerstone’s “Securities Class Action Filings 2018 Midyear Assessment,” 7 of the 111 “core” filings (those “without [mergers and acquisitions] claims”) made in 2018 have related to ICOs.
The percentage of the total number of securities filings that relate to ICOs has thus far increased when compared to last year.
A total of 87 core securities class action suits were filed in 2017, 5 of which pertained to ICOs (5.75%).
Presently, there are ongoing suits against Bitconnect – which is accused of “fail[ing] to disclose material facts” precipitating its collapse, and Ripple Labs.
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