Active Case

Tezos ICO


Block & Leviton LLP Sues and Seeks Restraining Order To Prevent Dissipation Of Tezos (XTZ) Initial Coin Offering (ICO) Funds

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Block & Leviton LLP yesterday filed a class action lawsuit in the Northern District of California on behalf of investors in the Tezos Initial Coin Offering. Today the firm moved for a temporary restraining order preventing any further dissipation of the funds raised by Tezos in their July 2017 initial coin offering ("ICO").

The lawsuit, captioned MacDonald v. Dynamic Ledger Solutions, Inc., et al., Case No. 3:17-cv-07095, alleges that Defendants violated California law by selling Tezos tokens (or "Tezzies") in an unregistered securities offering. The suit seeks rescission of the consideration paid by plaintiff and the class in the ICO in the original form of payment (e.g., the return of investors' Bitcoin or Ethereum).

Today the firm filed papers seeking a temporary restraining order seeking to freeze all assets of Defendants that were collected via or derived from the Tezos ICO and restraining Defendants from selling, transferring, converting, or otherwise disposing of ICO proceeds.

If you invested in the Tezos ICO and have questions about your legal rights or if you have information relevant to this investigation, please contact attorneys Joel Fleming or Jacob Walker of Block & Leviton LLP at (617) 398-5600 or at or or visit Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured.

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws as well as whistleblowing employees who provide information about their employers' violations of law. The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 70 years.

Contact us to learn more about this lawsuit.

Block & Leviton LLP
155 Federal Street, Suite 400
Boston, MA 02110
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