Joshua Ashley Klayman advised that it’s too early to determine what will happen in the class action case accusing Tezos of selling unregistered securities during its ICO in the Crowdfund Insider article “Tezos Terms Call Contributions “Donations”, Contributors Apparently Waive the Right to Class Action.”
“At this point, in my view, it is too early to draw any conclusions about the outcome of this case,” she said. “The company and the founders have not yet had a chance to respond to the complaint. And a complaint necessarily reflects only one side of the story, and only one version of the facts. Moreover, stepping back, it is important to bear in mind generally that a full analysis of any given token and token sale would be needed in order to determine whether such a given token is likely to be a security. In my view, it is not enough simply to skip the analysis and summarily conclude that a given token is a security.”
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