The world of Arthur Breitman and his wife, Kathleen, is now in turmoil as a second class action suit has just been filed against them.
After a disagreement with the owner of Tezos Foundation, the organisation that backed the Tezos token ICO, investors have been left hanging about the future of Tezos, the token project that was supposed to give them a commonwealth share o the company.
As things stand, Arthur Breitman, his wife, the Tezos Foundation, and Dynamic Ledge Solutions, the company which owns Tezos’ intellectual property were cited in the latest second lawsuit of its kind to target them.
Investors are saying that the above parties sold unregistered securities. According to News.Bitcom.com, in a quote that has come back to haunt Kathleen Breitman, the project founder likened the company’s fundraiser to contributing to a public television station. Dismissing suggestions that “Tezzies” tokens could be securities, she said it was more like receiving “a tote bag”. With the Tezos project yet to get off the ground, and investors forced to watch in anguish as the cryptocurrencies they parted with appreciate in value, the event has cast a shadow over 2017’s ICO bonanza.
Tezos Stung by Second Lawsuit in Under a MonthThe $232 million of ethereum and bitcoin that Tezos raised back in July would be worth $590 million at today’s prices. There should be more than enough in the pot to cover legal fees and compensation, should the courts find against Tezos in either of their impending lawsuits. Whatever the outcome, the experience has left a bitter taste in the mouths of investors.
Neither Arthur Breitman and his wife nor other parties to the suit have issued a formal statement to the lawsuit.