The behemoth Tezos ICO, once the darling of the ICO world backed by VC icon Tim Draper, is now the subject of at least one major class action lawsuit with potentially more to follow. The threat of class action came some weeks back after infighting at the top of the company went public.
The class action has been filed in district court in California by attorney James Taylor-Copeland on behalf of investors. The suit alleges that Tezos violated US Securities Law by offering securities, while at the same time “misleading” investors regarding the nature of the company.
Tim Draper defended his position writing in his comment to Cointelegraph: […]