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Crypto Co. Investors Denied Cert. In $32M ICO Fraud Suit – Law360

Law360 (September 17, 2019, 2:32 PM EDT) — A proposed class of investors waited too long to file a certification bid in their suit accusing the now-defunct cryptocurrency company Centra Tech of fraudulently raising $32 million in a 2017 initial coin offering, a Florida federal judge ruled Monday.

U.S. District Judge Robert N. Scola Jr. rejected the bid, finding that the investors’ motion was filed 18 months after they first brought claims and six months after their complaint was amended. Other districts in the state require a motion for class certification to be filed within 90 days of the complaint, he said, although he noted there was no such…

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