Tezos Founders Sued for Securities Fraud in Potential Class Action

A lawsuit seeking class action status has been filed in California against the founders and promoters of the controversial Tezos blockchain project.

The lawsuit represents the latest twist in the ongoing spat between Tezos founders Kathleen and Arthur Breitman and Johann Gevers, the head of the Tezos Foundation, a non-profit created to promote and support development of the project. The Breitmans accused Gevers of self-dealing, with Gevers alleging in turn that the Breitmans were seeking to assassinate his character and attempting to usurp control of the foundation.

That internal power struggle broke into public view earlier this month, stoking criticism of the project and raising questions about when the Tezos network would go live. It came months after the project raised a record $232 million in a token sale – the proceeds of which are now part of the dispute. The tokens have yet to be issued…

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