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FLiK : Initial Coin Offering

Case Summary

FLiK : Initial Coin Offering Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 05/13/2019 (Ongoing date of last review)

Filing Date: May 10, 2019

According to the Complaint, on or about August 12, 2017, FLiK published a whitepaper to solicit investments that was evaluated by Plaintiffs prior to making their investment in FLiK via the purchase of FLiK Tokens. FLiK Tokens are a form of cryptocurrency issued by FLiK pursuant to an “initial coin offering” or “ICO” between August 20, 2017 and September 20, 2017. The tokens were then traded on a cryptocurrency exchange called coinexchange.com, which acts like a stock market for hundreds of different cryptocurrencies. The value of many cryptocurrencies, like FLiK Tokens, are tied to the development of a related underlying business or technology.

The Complaint alleges that the FLiK ICO and sale of FLiK Tokens were the sale of unregistered securities under controlling federal law, and as such, Defendants have participated in an unregistered sale of securities in violation of the Securities Act, and are liable to Plaintiff and the Class for rescission and/or compensatory damages.


Company & Securities Information

Defendant: FLiK

COMPANY INFORMATION:

Sector:
Industry:
Headquarters:

SECURITIES INFORMATION:

Ticker Symbol:
Company Market:
Market Status:

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

Kenneth Fedance, et al. v. Clifford "T.I" Joseph Harris, Jr., et al.

COURT: N.D. Georgia
DOCKET #: 19-CV-02125
JUDGE: Hon. Charles A. Pannell, Jr.
DATE FILED: 05/10/2019
CLASS PERIOD START: 08/20/2017
CLASS PERIOD END: 09/20/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. PMJ PLLC
  2. Stoltmann Law Offices, P.C.
  3. The Doss Firm, LLC
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint 05/10/2019
2 U.S. District Court Civil Docket 05/13/2019

Reference Complaint

—Reference Complaint Complaint Related Data is not available

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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