Tezos Looking to Draw Line in the Lawsuit Sand, Petitions to End Legal Battles

Fri, 05/25/2018 - 09:28
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Darryn Pollock
Tezos, who has been dogged by lawsuits since their record-breaking ICO, are petitioning for an Amicus Brief to stop the lawsuits piling upon them
Tezos Looking to Draw Line in the Lawsuit Sand, Petitions to End Legal Battles
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Tezos, conceived as a governance-based Blockchain to rival Ethereum, that once held the record for the biggest ICO, has been dogged by lawsuits since the customers started realizing all their infighting would lead to promises not being filled.

So now, as the latest legal battle winds its way through court, the Tezos community has petitioned for an end to all the legal turmoil so that everyone can move on.

The Stop the Class Action Lawsuits Against Tezos petition

It has become so difficult for the Tezos team to make any moves for all the legal battles they have been fighting that they have essentially stalled while fighting battles for control at the top.

Now, the petition which has come out with hopes of being the line in the sand that will help the Tezos team move forwards, and they feel that the lawsuits are mostly unnecessary and that most of the complaints have not been bereaved as much as to go to court.

“We do not feel the plaintiffs have been sufficiently harmed to warrant a class action against the program, which further delays and encumbers it by creating large legal difficulties which become self-fulfilling and induced by the very plaintiffs themselves who complain of delay. We denounce the plaintiffs as having done more harm to Tezos than the delays inherent in software and network development,” Tezos community leaders wrote on their petition.

Their goal is to show the court that it is highly unlikely that the plaintiffs can form a class. If enough people denounce the class, and just six plaintiffs are claiming they can form a class, the plaintiff’s case becomes much more difficult.

The plaintiffs have claimed that they are speaking on behalf of the entire Tezos community, but it appears that a significant portion of that community demurs.

Bitcoin Suisse drops its class action

Already there seems to be some weight to this petition as Bitcoin Suisse AF, a BTC brokerage, also filed a motion seeking to dismiss itself from the Tezos class action lawsuit.

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About the author

Darryn Pollock is an award winning  journalist from Durban, South Africa. He picked up Vodacom’s Regional Sports Journalist Award in 2017 while expanding his Blockchain and cryptocurrency reach.  He is a contributor to Forbes, Cointelegraph, Binary District, and of course, U.Today. Darryn’s belief is that Blockchain technology will be the driving force of the next technological wave and it is the obligation of journalists and writers to tell its emerging story with integrity and pride.