Dentons partner Joel D. Siegel has entered an appearance for San Francisco-based Constellation Network in a pending investor class action over its issuance of two cryptocurrency tokens, the ERC-20 DAG and the Mainnet DAG. The action, filed Nov. 16 in California Northern District Court by Scott + Scott, accuses the company and its top executives of preventing investors from swapping their ERC-20 tokens and creating confusion between the two classes of tokens. Constellation, which raised $33.7 million in a 2018 initial coin offering, specializes in cybersecurity for Big Data sets. The case, assigned to U.S. District Judge Jeffrey S. White, is 4:21-cv-08869, Morgan et al v. Constellation Network, Inc. et al.
Cryptocurrency
December 15, 2021, 10:07 AM