Bitcoin

Participants in a cryptocurrency conference file a “massive” class action lawsuit

The specialist lawyer for securities fraud and loss of investment David Silver has filed a class action lawsuit on behalf of the participants against the organizer of the canceled conference, Mass Adoption.

After this First lawsuit filed on May 7, Ashley Gentry is the main plaintiff in a 2000-person lawsuit against Jacob Kostecki, the creator of “Mass Adoption in Memphis: Blockchain and Digital Assets,” a conference on cryptocurrencies that was due to take place in February 2020 but was canceled on January 31.

demand, presented by Silver in the District of Colorado begins with a line attributed to Norman Vincent Peale: “Promises are like babies crying in a theater: they have to be carried out immediately.”and draws attention to Kostecki’s promise to refund conference tickets and packages within six months.

Participants in a cryptocurrency conference file a “massive” class action lawsuit
Participants in a cryptocurrency conference file a “massive” class action lawsuit

Gentry’s lawyer claims Kostecki has caused “significant financial losses” and “has failed to keep its promises.”. The record requires compensation for damage due to loss of tickets, attorney fees, other costs and interest.

Is mass adoption a massive failure?

The mass adoption cryptocurrency festival was originally scheduled for November 2019 in Memphis before being postponed to February 27-28, 2020. The conference should be for 2,000 registered attendees and have 60 registered speakers. Kostecki sold hotel tickets, packages and airfares months before the event.

However Kostecki unexpectedly canceled the event on January 31. say he experienced “Cash flow problems” in the past few days. Although more than three months have passed since then, Gentry and the anonymous members of the lawsuit report that they have received nothing.

Kostecki made very strong tweets about refunds and apologizeand said on March 3 that many “refunds were made”.

However as Silver said When it comes to money, “Twitter promises are not enough.”

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