Second Class-Action Lawsuit Spells More Trouble for Tezos ICO

There have been a lot of issues with the Tezos ICO ever since this project raised US$232 million in very little time. Raising a lot of money does not necessarily make for a solid project, a lesson the Tezos founders are certainly learning the hard way. Those founders are facing not just one, but two class-action lawsuits right now. Investors are quickly turning their backs on this project and hoping to get some of their money back in the process.

The latest lawsuit was filed earlier this week and made public on Wednesday. The plaintiffs are going after the co-founders of Tezos, Dynamic Ledger Solutions Inc., and the Tezos Foundation all at once. Since none of these entities were on the same page when it came to the distribution and trading of the Tezos token, it was only a matter of time until this powder keg exploded. With no possible resolution in sight, taking the matter to court was the only viable option.
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