According to the Complaint, BProtocol Foundation ("Bancor") is a blockchain-focused software development company that is currently developing and promoting the Bancor blockchain protocol, and is the issuer of BNT.

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

On August 20, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on the same day. On September 11, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on October 13. On February 22, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs' offer to re-plead was denied. On March 22, Lead Plaintiff filed a notice appealing the Court's Dismissal Order. Lead Plaintiff withdrew the appeal on July 1, 2021.