According to the Complaint, HDR Global Trading Limited launched in 2014. By January 2017, it had become, and remains, the largest cryptocurrency derivatives exchange in the world, with the highest trading volume of any such futures exchange.
Individually and on behalf of all others similarly situated, Plaintiffs bring this action against Defendants HDR Global Trading Limited, ABS Global Trading Limited (together with HDR Global Trading Limited, “BitMEX”), and the individual Defendants. On behalf of (a) a class of investors who purchased securities and commodities futures that BitMEX sold through its exchange since July 1, 2017 (the “Class”), and (b) a subclass of investors who purchased digital-tokens futures that, without registering under applicable federal and state securities laws as an exchange or broker-dealer and without a registration statement in effect, BitMEX sold through its exchange since July 1, 2017 (the “Subclass”), Plaintiffs and members of the Class and Subclass seek to recover the damages suffered from Defendants’ allegedly unlawful actions, the consideration paid for the products, and the fees they paid to BitMEX in connection with their purchases.
Plaintiffs filed an amended Complaint on April 23, 2020.