Case Status
Settled
Practice Areas
Court
Superior Court of California, County of San Francisco
Case Number
CJC-18-004978 (JCCP 4978)
Defendant(S)
Dynamic Ledger Solutions, Inc.
Tezos Stiftung
Kathleen Breitman
Arthur Breitman
Johann Gevers
Timothy Cook Draper
Draper Associates V Crypto LLC
Bitcoin Suisse AG
Stock Symbol
XTZ
File Date

Hagens Berman filed a class action in the Superior Court of California, County of San Mateo, which was later transferred to the San Francisco Superior Court, on behalf of investors to recover the bitcoin (BTC), Ethereum (ETH) and fiat currency paid in the Tezos Initial Coin Offering (“ICO”).

The complaint, which names Defendants Dynamic Ledger Solutions, Inc. (DLS), Tezos Stiftung (aka the “Tezos Foundation”), Kathleen Breitman, Arthur Breitman, Timothy Cook Draper, Draper Associates V Crypto LLC, alleges that Defendants illegally sold unregistered securities in violation of Sections 5(a), 5(c), and 12(a) of the Securities Act of 1933.  In doing so, Defendants collected approximately $232 million USD worth of cryptocurrencies from investors (primarily Bitcoin and Ethereum).

Case Timeline
Title
Plaintiff Files Complain in San Mateo Superior Court
Date
Title
Plaintiff Files Petition for Coordination
Date
Title
The Court Grants Plaintiff's Petition for Coordination and Recommends San Francisco Superior Court as the Site for the Coordinated Proceedings
Date
Title
The Court Assigns Hon. Mary E. Wiss as Coordination Trial Judge
Date
Title
Plaintiff Baker Files the Second Amended Complaint
Date
Title
The Court Reassigns Case to Hon. Teri L. Jackson as Coordination Trial Judge
Date
Title
The Court Grants Plaintiffs' Request for Dismissal
Date
Title
The Court Sustains Defendants' Demurrer to the Second Amended Complaint with Leave to Amend
Date
Title
Plaintiff Baker Files the Third Amended Complaint
Date
Title
The Court Reassigns Case to Hon. Andrew Y.S. Cheng as Coordination Trial Judge
Date
Title
The Court Grants Plaintiff Baker's Request for Dismissal
Date

CASE TIMELINE

The Court Grants Plaintiff Baker's Request for Dismissal

The Court Reassigns Case to Hon. Andrew Y.S. Cheng as Coordination Trial Judge
Plaintiff Baker Files the Third Amended Complaint
The Court Sustains Defendants' Demurrer to the Second Amended Complaint with Leave to Amend
The Court Reassigns Case to Hon. Teri L. Jackson as Coordination Trial Judge
The Court Grants Plaintiffs' Request for Dismissal
Plaintiff Baker Files the Second Amended Complaint

The Court Assigns Hon. Mary E. Wiss as Coordination Trial Judge
The Court Grants Plaintiff's Petition for Coordination and Recommends San Francisco Superior Court as the Site for the Coordinated Proceedings
Plaintiff Files Petition for Coordination
Plaintiff Files Complain in San Mateo Superior Court

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