Description
Class action suit against Compound DAO, along with several partner defendants involved in developing or investing in the project. The suit alleges the Defendants participated in a scheme to sell unregistered securities in the form of cryptocurrency.
Legal Significance
Since the partner defendants were actively soliciting sales of crypto assets, they cannot claim to be mere collateral participants. Consequently, this case is distinct from the similar cases that were favorable to Compound DAO. See Underwood v. Coinbase Global and Rinsley v. Uniswap Labs.
Issues
Status
Motion to Dismiss
Case No.
3:22-cv-07781
Date Filed
December 8, 2022
Plaintiff
Amanda HoughtonCharles DouglasSusan Franklin
Defendant
Compound DAORobert LeshnerGeoffrey HayesAH Capital Management LLC dba Andreessen HorowitzPolychain Alchemy LLCBain Capital Ventures (GP) LLCGauntlet Networks IncParadigm Operations LP
Court
USDC Northern District of California San Francisco Division
Plaintiff Counsel
Fairmark Partners LLPSusman Godfrey LLPGerstein Harrow LLP
Defendant Counsel
Morrison Cohen LLPLondon & Stout P.C.Latham & Watkins LLPCleary Gottlieb Steen & Hamilton LLPJenner & Block LLPSkadden Arps Slate Meagher & Flom LLP
Major Filings
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