Description
Plaintiff sues Open Props Inc., alleging that the company devised a fraudulent scheme by claiming to raise money for a decentralized network powered by "Props Tokens," which never materialized.
Legal Significance
The judge granted a motion to dismiss fraud allegations against the token issuer, citing that the risks were disclosed in the white papers and the alleged misstatements were opinions and forward-looking statements.
Status
Dismissed
Case No.
1:22-cv-03326
Date Filed
April 24, 2022
Plaintiff
Romein Rostami
Defendant
Open Props Inc.Adi SidemanYonatan SelaBen PerperEran Kalmanson
Court
USDC Southern District of New York
Plaintiff Counsel
Matthew M. Fischer P.A.Venture Lawyers
Defendant Counsel
Ellenoff Grossman & Schole LLP
Major Filings
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