According to the Complaint, Nano is a peer-to-peer digital currency.

Plaintiff's law firm issued a press release on April 6, 2018, announcing the filing of the lawsuit.

The Complaint alleges Nano and its core team engaged in an unregistered offering and sale of securities that violated federal securities laws, including Sections 12(a) and 15 of the Securities Act of 1933.

This case was voluntarily dismissed on September 28, 2018. A related case continues under Docket 19-CV-00054 in the Northern District of California.

On April 10, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. On March 28, Defendants filed a Motion to Dismiss the Complaint. The Court issued an Order granting Defendants' Motion to Dismiss on July 11. Plaintiffs were given leave to amend the Complaint. Lead Plaintiff amended the Complaint on July 25. Defendants filed a Motion to Dismiss the amended Complaint on August 15. On October 4, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. The Federal Securities claims were dismissed with prejudice.