Investors Failed To Prove Cryptocurrency Was Investment Contract, Jury Finds

Mealey's (November 11, 2021, 9:03 AM EST) -- NEW HAVEN, Conn. — A federal jury in Connecticut on Nov. 1 concluded that lead plaintiffs in a securities class action against the founder of two cryptocurrency companies and the companies themselves failed to sufficiently plead that the defendants violated state or federal securities laws when they sold virtual currency because the products were not investment contracts....