Latium Network, Inc. : Initial Coin Offering Securities Litigation
On or around 12/10/2018 (Ongoing date of last review)
Filing Date: June 06, 2018
Plaintiff's law firm issued a press release on June 14, 2018, to announce the filing of the lawsuit. According to the press release, the Complaint alleges that during the Class Period, Latium Network, Inc. ("Latium" or the "Company") conducted an initial coin offering during which it received over $17 million by selling LatiumX tokens to investors. Prior to conducting the Latium initial coin offering, the Company did not submit any registration statements to the United States Securities and Exchange Commission and there were not any available exemptions from registration. The action alleges that the Latium initial coin offering constitutes the offer and sale of unregistered securities without an exemption in direction violation of the Securities Act. The Complaint also alleges that Latium’s senior executives, the individual Defendants, are liable under federal securities laws as controlling persons who had sufficient influence over and direct knowledge of Latium’s involvement in the initial coin offering.
On August 21, 2018, Defendants filed a Motion to Dismiss the Complaint. On October 2, the Court issued an Order appointing Lead Plaintiff and Counsel. On December 10, the Court issued an Order denying Defendants' Motion to Dismiss the Complaint.
Company & Securities Information
Defendant: Latium Network, Inc.
Industry: Consumer Financial Services
Headquarters: United States
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Joevannie Solis, et al. v. Latium Network, Inc., et al.
COURT: D. New Jersey
DOCKET #: 18-CV-10255
JUDGE: Hon. Susan D. Wigenton
DATE FILED: 06/06/2018
CLASS PERIOD START: 07/25/2017
CLASS PERIOD END: 03/01/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Calcagni & Kanefsky One Newark Center, Calcagni & Kanefsky, NJ 07102 862-397-1796 ·
Flint Law Firm LLC 222 East Park Street, Suite 500, Flint Law Firm LLC, IL 62025 618.205.2017 ·
First Identified Complaint (FIC) Filings:
Class Action Complaint
Plaintiff's Motion for Appointment of Lead Plaintiff and for Approval of Selection of Lead and Liaison Counsel
U.S. District Court Civil Docket
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available