Re:The trillion-dollar lawsuit against Tether
by ineedasername on Monday November 04, 2019 @05:44PM
(#21447461)
Sure, it might be criminal fraud, but a lawsuit like this is civil. And in a civil lawsuit, you generally have to show actual damages. People that lost on the Bitcoin bubble burst caused in part by tether may have a stronger case though.
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Re:The trillion-dollar lawsuit against Tether
by JumpCrisscross on Monday November 04, 2019 @06:07PM
(#21447678)
> People that lost on the Bitcoin bubble burst caused in part by tether may have a stronger case though
The complaint [1] seeks to certify precisely this class.
"Plaintiffs and members of the Class have suffered actual damages and injury in fact due to artificial prices to which they would not have been subject but for the unlawful conduct of the Defendants as alleged herein" (¶ 260). This is par for the course when it comes to "part-fraud, part-pump-and-dump, and part-money laundering" (¶ 2) schemes.
Note that the defendants are various, from Tether to its affiliates, including Bitfinex.
[1] https://www.courtlistener.com/recap/gov.uscourts.nysd.524076...