On September 1, 2023, the court agreed that plaintiffs had adequately stated claims of fraud, price manipulation, violations of the Securities and Commodities Act, the Racketeer Influenced and Corrupt Organizations Act, and claims of unjust enrichment against certain defendants. However, Judge Louis Stanton dismissed all claims against payment companies Paysafe, Skrill, Decentral and Alphabit outright for lack of jurisdiction.
Investors allege that Di Iorio, while serving as an advisor to Helbiz, published false and misleading statements about the HelbizCoin ICO in Bitcoin Magazine. However, the plaintiffs did not provide the necessary evidence, so the judge considered these allegations to be theoretical inferences by investors.
The court will continue to consider the class action lawsuit against the creators of HelbizCoin. This trial has been going on for almost three years. Investors first filed a complaint against Helbiz CEO Salvatore Palella and his partners in 2020. In January 2021, the court dismissed the investors' lawsuit, citing 2010 Supreme Court precedent that limits the extraterritorial reach of the federal securities laws. However, the case was reopened in October 2021 when the Second U.S. Circuit Court of Appeals found the lower court's ruling to be erroneous. In March 2022, investors filed an updated lawsuit against HelBiz.
Attorney Michael Kanovitz, who is defending the investors, said the case established that HelbizCoin token is a security. In doing so, the court cited some federal legislation. The lawyer added that the complaint included a number of graphs using the Etherium blockchain, allegedly proving ICO fraud. Kanowitz emphasized: the transparency of the blockchain has made it much easier to track down violators.
In February 2023, a court in the Southern District of New York recognized emoji as "investment advice" because emojis in the form of stock charts and moneybags can hint at financial gain.
Сообщение US federal court Recognizes Helbizcoin Token as a security появились сначала на btcnews.biz.
