June 8, 2018 / 6:49 PM / 2 months ago

Judge rejects class status for bitcoin buyers suing Mizuho Bank

A federal judge in Chicago has rejected class status for investors accusing Japan’s Mizuho Bank of hiding problems at the defunct Mt Gox bitcoin exchange, increasing the investors’ losses when the exchange collapsed in 2014.

U.S. District Judge Gary Feinerman said Thursday that the named plaintiff in the case, Illinois resident Anthony Motto, is not an adequate representative for the class because he may not have been injured by the bank’s alleged wrongdoing.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2LBn3x9

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