Fenwick & West offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM Crypto Investor Hits Fenwick & West With $2.6 Million Lawsuit
"Fenwick's public pronouncement of its venture capital and regulatory expertise contributed to the misleading notion that Prime took regulatory compliance seriously and lent credibility to Prime's claims of compliance, competence, and innovation," the complaint states.
August 20, 2024 at 11:28 AM
4 minute read
Litigation
The original version of this story was published on The American Lawyer
What You Need to Know
- An investor in cryptocurrency custodian Prime Trust sued Fenwick & West for more than $2 million.
- The investor, Seven Peaks Ventures, claims it was misled into investing into the failed crypto company's Series A funding round in 2021.
- Prime Trust went bankrupt and entered state receivership in Nevada in August 2023.
Fenwick & West was sued in an Oregon court Monday by investors in defunct cryptocurrency custodian Prime Trust for allegedly misleading them into investing.
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