BitConnect lawsuits update, July 2018 (class-action mergers)
Over the last month we’ve covered the addition of YouTube as a defendant in the BitConnect class-action filed in Florida.
Here’s our July update on the other BitConnect cases filed across the US.
Following on from YouTube being added as a defendant, Charles Wildes’ BitConnect lawsuit has emerged as the primary case to follow.
On June 19th an order approved the appointment of a Lead Plaintiff (the BitConnect Investor Group), their attorneys (co-lead counsel) and the creation of an “Executive Committee”.
The Executive Committee is made up of three law firms who ‘will assist with this litigation at the direction, and under the supervision of, Co-Lead Counsel‘.
Three other BitConnect cases have been rolled into Paige’s lawsuit, which means our separate coverage of them will end.
In order to avoid confusion, from here on out we’ll be referring to the Wildes et al. lawsuit as simply the “BitConnect class-action”.
The latest in the BitConnect class-action is a July 9th summons issued to YouTube.
The Google owned media giant was added as a plaintiff by way of a Third Amended Complaint filed on July 3rd.
As at the time of publication YouTube has yet to make a filing in the case.
With respect to the other BitConnect lawsuits we were tracking as of last month;
- Kline et al v. Bitconnect and Long et al v. BitConnect were merged into the BitConnect class-action as per separate June 19th orders
- Mengesha v. BitConnect International PLC et al was merged into the BitConnect class-action on June 21st
- no additional filings have been made in Paige v. BitConnect International PLC et al
One note on Mengesha v. BitConnect; whereas the Kline and Long lawsuits have been terminated post merger, Mengesha v. BitConnect International is still open.
I assume the case will be formally terminated at some point but from here out we won’t be tracking it.
The merger of most of the BitConnect cases also means we’ll be checking in on the class action more frequently than once a month.