Quick Take

  • 13-Count California federal court lawsuit by Bitcoin Manipulation Abatement LLC seeks $150 million in damages from FTX Trading and other defendants
  • Plaintiff says Defendants engaged in wide spread crypto market manipulation, seek damages under federal RICO statute, Commodities Exchange, Cal state law and under various common law and equitable theories
  • Lawsuit is long on words and short factual specificity and seems vulnerable to attack on multiple grounds and stands a significant chance of being dismissed if defendants hire good lawyer

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Author: Stephen Palley

Categories: Legal