According to the Complaint, KayDex Pte. Ltd. (“Kyber” or “Kyber Network”) describes itself as an “on-chain liquidity protocol that aggregates liquidity from a wide range of reserves, powering instant and secure token exchange in any decentralized application.”

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

On August 7, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on September 11.

On April 27, 2021, Lead Plaintiff voluntarily dismissed the case.