According to the Complaint, Tron Foundation is a blockchain-focused software development company that is currently developing and promoting the TRON blockchain protocol.

The Complaint alleges that within the Class Period, TRON and individual defendants promoted, offered, and sold TRON’s securities, called TRX tokens, throughout the United States, in violation of federal and state securities laws. Plaintiffs individually and on behalf of investors who purchased TRX in the United States (the “Class”) bring claims to recover the consideration paid for the TRX tokens, together with interest thereon, as well as attorneys’ fees and costs.

On June 30, 2020, the Court issued an Order appointing Lead Plaintiffs and Co-Lead Counsel. Lead Plaintiffs filed an amended Complaint on August 24. One of the Lead Plaintiffs voluntarily dismissed his claims against the Defendants on May 12, 2021. The two remaining Plaintiffs continue as Lead Plaintiffs.