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OneCoin Ltd. : Cryptocurrency

Case Summary

OneCoin Ltd. : Cryptocurrency Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 12/28/2020 (Date of last review)

Filing Date: May 07, 2019

According to the Complaint, ONECOIN LTD., founded in or about April 2014, is a foreign corporation based in Sophia, Bulgaria, and markets a purported digital cryptocurrency called “OneCoin” through a global multi-level marketing (“MLM”) network of OneCoin members.

The Complaint alleges that OneCoin Ltd., its related corporate entities, and the Companies' founders and principals fraudulently promoted cryptocurrency investments and engaged in an unregistered offering and sale of securities that violated numerous federal securities laws. The Complaint further alleges that OneCoin's principals laundered hundreds of millions of dollars of investor funds.

On July 11, 2019, the Court issued an Order appointing Lead Plaintiff. On July 24, the Court approved Lead Plaintiff's selection of Counsel. Lead Plaintiff filed an amended Complaint on August 2. On February 28, 2020, Lead Plaintiff voluntarily dismissed two of the individual Defendants. One August 20, Lead Plaintiff voluntarily dismissed one of the individual Defendants. Lead Plaintiff filed a second amended Complaint on September 25.

Company & Securities Information

Defendant: OneCoin Ltd.

COMPANY INFORMATION:

Sector: Financial
Industry: Consumer Financial Services
Headquarters: Bulgaria

SECURITIES INFORMATION:

Ticker Symbol: N/A
Company Market: N/A
Market Status: N/A

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

Christine Grablis, et al. v. OneCoin Ltd., et al.

COURT: S.D. New York
DOCKET #: 19-CV-04074
JUDGE: Hon. Valerie E. Caproni
DATE FILED: 05/07/2019
CLASS PERIOD START: 09/01/2014
CLASS PERIOD END: 05/07/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Silver Miller
  2. The Braunstein Law Firm, PLLC
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint 05/07/2019
2 Order 07/11/2019
3 U.S. District Court Civil Docket 07/24/2019
4 Order Granting Lead Plaintiff Donald Berdeaux's Motion for Approval of Selection of Co-Lead Counsel 07/24/2019

Reference Complaint

Donald Berdeaux, et al. v. OneCoin Ltd., et al.

COURT: S.D. New York
DOCKET #: 19-CV-04074
JUDGE: Hon. Valerie E. Caproni
DATE FILED: 09/25/2020
CLASS PERIOD START: 04/01/2014
CLASS PERIOD END: 03/31/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Levi & Korsinsky LLP (DC)
  2. Silver Miller
  3. Zelle LLP
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 First Amended Class Action Complaint 08/02/2019
2 Plaintiffs' Notice of Voluntary Dismissal without Prejudice as to Defendants Sebastian Greenwood and Irina Andreeva Dilinska 02/28/2020
3 Stipulation 08/06/2020
4 Stipulation 08/20/2020
5 Second Amended Class Action Complaint 09/25/2020
6 U.S. District Court Civil Docket 09/28/2020
7 Order 09/28/2020
8 U.S. District Court Civil Docket 12/29/2020

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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