Attorneys in Florida and New York have hit influencers, a basketball star and Binance, the largest centralized, web-based crypto-products platform, with a class action lawsuit in Miami federal court over the promotion, participation and sale of unregistered securities.

“This is a classic case of a registered exchange, which is promoting the sale of an unregistered security,” the three plaintiffs, Michael Sizemore in California, and Rudy Vazquez and Mikey Vongdara in Florida, alleged in the 74-page class action lawsuit.

Changpeng Zhao, billionaire and chief executive officer of Binance Holdings Ltd., speaks during a session at the Web Summit in Lisbon, Portugal, on Wednesday, Nov. 2, 2022. (Credit: Zed Jameson/Bloomberg) Changpeng Zhao, billionaire and chief executive officer of Binance Holdings Ltd., speaks during a session at the Web Summit in Lisbon, Portugal, on Wednesday, Nov. 2, 2022. (Credit: Zed Jameson/Bloomberg)

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]