Judge Revives Fraud Claim Against Barry Silbert, DCG in Genesis Yield Lawsuit on July 3

According to The Block, Judge Stefan Underhill revived a fraud claim against Barry Silbert and Digital Currency Group in a Genesis Yield investor lawsuit on July 3. The ruling brings back New York common law fraud allegations while allowing federal securities claims to proceed. Consumer protection claims in California, Florida, and New York were stayed; those under Illinois, Kansas, Nevada, and Texas law were dismissed. Genesis Yield, a lending program that suspended withdrawals in early 2023 and later filed for bankruptcy, was alleged by investors to have misled customers about financial health and risk controls.
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.
Comment
0/400
No comments