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Investors in Coin Offering Case Get New Chance at Class Status

June 30, 2021, 9:38 PM

Centra Tech Inc. investors who sued over its initial coin offering can try again to move forward as a class after the Eleventh Circuit determined their motion was timely and they had a feasible way to find potential members.

Centra Tech falsely promised partnerships with Visa and Mastercard, leading the company’s founders to plead guilty to securities and wire fraud. Investors’ related suit accused the company of misleading them about its ICO.

After a district court rejected their class certification bid on timeliness grounds, the U.S. Court of Appeals for the Eleventh Circuit reversed, saying the judge abused his ...