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Tether Accused of ‘Unlawful and Deceptive’ Practice in New Class-Action Lawsuit | https://www.themorganreport.com
The stablecoin issuer has responded in turn, calling the lawsuit “nonsense” based on “entirely meritless claims.”
Leading stablecoin issuer Tether has been hit with a class-action lawsuit alleging the company’s practices are “immoral, unethical, oppressive, and unscrupulous,” according to the complaint, which was filed in the district court of south New York.
Plaintiffs Matthew Anderson and Shawn Dolika dispute Tether’s claim that its cryptocurrency is backed by 1:1 dollar reserves. This claim has been challenged in court twice already this year, and the plaintiffs’ case references the firm’s checkered legal history.
Read this article on Tether Accused of ‘Unlawful and Deceptive’ Practice in New Class-Action Lawsuit, then please share with your friends and family on social media and use the caption: Tether Accused of ‘Unlawful and Deceptive’ Practice in New Class-Action Lawsuit.
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