April 5, 2018 / 11:30 PM / 8 months ago

Bitcoin buyers lose bid to combine lawsuits against Mizuho Bank

The federal Judicial Panel on Multidistrict Litigation has rejected a request by plaintiffs to combine three lawsuits accusing Japan’s Mizuho Bank of hiding problems at the Mt Gox bitcoin exchange, worsening investors’ losses when the exchange collapsed in 2014.

In a decision on Wednesday, the panel said that while the three proposed class actions have many facts in common, all dealing with the failure of Tokyo-based Mt Gox, the creation of multidistrict litigation is not warranted because of the small number of lawsuits.

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

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