Home Altcoins News Petitions of Tezos Community to End Litigations for Class Action

Petitions of Tezos Community to End Litigations for Class Action

Petitions of Tezos

Tezos community is convinced as the governance-based blockchain that rivals Ethereum. However, the platform becomes similar to the protracted internecine conflict and legal battles. As the latest litigation for class action brings itself to the court, the Tezos community had petitioned to end the lawsuit and other legalities so that everyone involved in this case can move ahead.

The leaders of Tezos community felt sick of all the litigations, and they have to put up themselves to prepare and go to the court. They have to do all of it so all the courtroom battles will come to an end. Filed in the San Francisco Court, the petition “Stop Class Action Litigations Against Tezos” is asserting that the filed class actions by different Tezos investors had no worth and must be dismissed.

In essence, the community members of Tezos, who are behind this petition wanted to draw lines and move forward. Their main goal is to let the court understand that it is not ideal for the complainants to form a class. If enough number of persons had denounced the class action and six complainants are claiming to form a class, then the case will become more difficult.

The complainants are claiming that on behalf of the whole Tezos community, they are speaking for all, but it seems that a significant part of this community objects on the spoken claim.

“Everything is appearing to be monitored for the project currently,” explained by Shaun Belcher, the boards of the director member with the Tezos Commons Foundation. “It is just that the looming threats of the legal action are limiting the ability of our foundation to speak.

Becher believes that ramification is what at stake not just for the community, but generally, for the future of the blockchain project.

“We should understand that Tezos case class action can set a precedent for the entire ICOs, both past, and future,” he added. “If this community prevails, it will no just support Tezos, but at the same time, immunize the other projects of blockchain from facing the class actions because the failure against Tezos will discourage the law firms in the coming days.”

Just last week ago, the BTC brokerage namely Bitcoin Suisse AF filed a motion to seek dismissal for itself from the Tezos class action litigation. Meanwhile, the litigations for a class action are rumbling on while Tezos community grows weary.


Read more about:
Share on

Sydney Ifergan

Sydney has 20+ years commercial experience and has spent the last 10 years working in the online marketing arena and was the CMO for a large FX brokerage.

Crypto newsletter

Get the latest Crypto & Blockchain News in your inbox.

By clicking Subscribe, you agree to our Privacy Policy.