Hedge Fund Avoids Arbitration In Cryptocurrency Securities Suit Bloomberg Law

by news.bloomberglaw.com posted 1week ago 8 views
A Hong Kong-based investment fund doesn’t have to arbitrate claims alleging violations of U.S. securities law by Mobile Gaming Technologies Inc. because it entered into an arbitration agreement with the company’s subsidiary, CashBet, not with Mobile Gaming , a California appellate court said. Newstyle Capital Investment Management Ltd., which has offices in Menlo Park, Calif., purchased over 4.8 million coins from CashBet in 2018, through a “Token Purchase Agreement” offered by Mobile Gaming, which gave investors the right to acquire coins from CashBet. As part of that agreement, Newstyle agreed to arbitrate grievances with CashBet.

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