Description
Class action suit against PoolTogether Inc., claiming the decentralized finance protocol ran an illegal lottery.
Legal Significance
To pursue litigation, a plaintiff must have standing; which requires the plaintiff to demonstrate that (i) they suffered an injury that is concrete, particularized, and actual or imminent, and (ii) that the injury can be redressed by a favorable decision. Neither requirement was satisfied in this case.
Status
Dismissed
Case No.
1:21-cv-06025
Date Filed
October 29, 2021
Plaintiff
Joseph Kent
Defendant
PoolTogether Inc.Leighton CusackKain WarwickStanislav KulechovDragonfly Capital LLCNascent US LLCMaven 11 Capital BVGalaxy Digital Capital Management LPParafi Capital LPCompound Labs Inc.Dharma Labs Inc.Ozone Networks Inc.
Court
USDC Eastern District of New York
Plaintiff Counsel
Gerstein Harrow LLP
Defendant Counsel
Orrick Herrington & Sutcliffe LLPCapes SokolWaymaker LLPKaplan Hecker & Fink LLPMorrison Cohen LLPThompson Coburn Hahn & Hessen LLPMunger Tolles & Olson LLP
Major Filings
Reply Memo in Support of Dragonfly’s Motion to Dismiss Second Amended Complaint or Strike Class Allegations
June 17, 2022
Memo in Support of Dragonfly’s Motion to Dismiss Second Amended Complaint or Strike Class Allegations
June 17, 2022
Reply Memo in Support of Compound’s Motion to Dismiss Second Amended Complaint or Strike Class Allegations
June 17, 2022
Memo in Support of Compound’s Motion to Dismiss Second Amended Complaint or Strike Class Allegations
June 17, 2022
Reply in Support of PoolTogether’s Motion to Dismiss Second Amended Complaint or Strike Class Allegations
June 17, 2022
Memo in Opposition to PoolTogether’s Motion to Dismiss Second Amended Complaint or Strike Class Allegations
June 17, 2022
Memo in Support of PoolTogether’s Motion to Compel Arbitration, Motion to Dismiss Second Amended Complaint or Strike Allegations
June 17, 2022
Notice of Motion to Compel Arbitration, Motion to Dismiss Second Amended Complaint or Strike Class Allegations by PoolTogether
June 17, 2022
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