(Reuters) – A class-action lawsuit has been filed in a California state court against the organizers of the technology project Tezos, which in July raised $232 million in one of the largest “initial coin offerings” (ICOs) ever.
The lawsuit, filed on Oct. 25 in the California Superior Court in San Francisco, alleges that Tezos’ organizers violated U.S. securities laws and defrauded participants in the online fundraiser.
ICOs have become a popular way for technology companies to raise money by issuing new cryptocurrencies to raise capital.
Tezos, however, has yet to issue any digital coins and participants were told they were making a donation and may never receive any…
Read Full: Tezos organizers sued in California over crypto currency project
