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September 26, 2023

Legal Battle Unfolds: HelbizCoin Investors Win Court Ruling in Class-Action Lawsuit

Investors in the HelbizCoin cryptocurrency have recently won a court ruling in a class-action lawsuit against the platform. The ruling will allow investors to pursue a case against the platform and its leadership for fraud and negligence. According to reports, the United States District Court for the Southern District of Florida has granted a motion for leave to file a class action lawsuit against HelbizCoin. The motion was brought by two investors in the project, who allege that they lost money as a result of fraudulent and negligent actions by the project’s leadership. The two investors brought the action against HelbizCoin and its founder and CEO Stas Oskin. They allege that Oskin misled investors when pitching HelbizCoin and its associated mobile app, which was designed to facilitate the purchase, sale, and storage of cryptocurrency. They claim that Oskin falsely portrayed the project as being backed by legitimate venture capital firms that did not actually exist. Additionally, they also allege that the promised mobile app was never released, causing investors to suffer financial losses as a result. In their ruling, the court found that the investors had sufficiently plead a case for fraud and negligence against the project’s leadership. The judge ruled that the case could move forward as a class-action lawsuit on behalf of all similarly situated investors who purchased or held HelbizCoin tokens. This is a significant ruling for investors in the HelbizCoin project, as it provides a pathway for them to seek damages from the platform’s leadership. It also shows that cryptocurrency projects can be held liable for fraudulent or negligent actions. This legal precedent could provide investors with more protection when investing in similar projects in the future.