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Home News Former DOJ Lawyer Says Class Action Cases Will Benefit Crypto

Former DOJ Lawyer Says Class Action Cases Will Benefit Crypto

Document Analysis NLP IA

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objective
redaction

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probably it's an affirmation
Affirmation0.5

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Summary (IA Generated)

A former Department of Justice, or DOJ, special counsel explains why his firm has brought twelve class action lawsuits against some of the biggest firms in crypto, and how it will benefit the industry in the long run.

Jordan Goldstein, a partner at Selendy & Gay, a firm that joined forces with Roche Cyrulnik Freedman in brining 12 class actions cases against crypto heavyweights.

Investors should not be scaredGoldstein told Cointelegraph that his primary goal is to help the investors who were allegedly misled by the issuers of unregistered securities.

He firmly believes that these cases will benefit the industry in the long run:.

“By bearing the costs of the litigation, it will force companies and issuers ex ante when they consider the new landscape after these lawsuits to be more careful to follow the rules.

”.

Becoming lead plaintiff has its benefitsGoldstein said that there are significant benefits to joining these cases as a lead plaintiff:.

“I do think that’s one of the salutary impacts of these litigations will be leveling the playing field so that there’s sort of one set of rules that applies to all.

Whether these cases will have a beneficial effect on the industry remains to be seen, however, it does not appear that we will see the revival of 2017’s Initial Coin Offering, or ICO, frenzy anytime soon.


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