Riot Blockchain faces two investor suits claiming the company’s October 2017 name change was done to drive up stock prices, even though the firm lacked substantive cryptocurrency investments.
Riot Blockchain Inc., formerly Bioptix Inc., used its name change to attract cryptocurrency investors despite not having a meaningful cryptocurrency business plan, according to the two complaints, one filed Feb. 22 in the U.S. District Court for the District of Colorado and the other filed Feb. 17 in the U.S. District Court for the District of New Jersey.
Riot Blockchain focused on animal health and veterinary products prior to its name change, ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.