Tokens Promised, Never Delivered
After the ICO, Liu says she repeatedly requested the tokens she was promised, but never received them. To date, neither Liu nor Goopal has obtained their Cere tokens, the complaint alleges.
As a result, plaintiffs argue they were prevented from selling at market prices when the token was near its peak.
Liu is seeking $9.4 million for the value of 20 million tokens she was owed at the time of the ICO, while Goopal is seeking $15.66 million tied to 33.3 million tokens.
Claims and Legal Representation
The lawsuit asserts claims including RICO violations, RICO conspiracy, fraud, aiding and abetting fraud, negligent misrepresentation, and breach of advisory and token sale agreements.
The plaintiffs are represented by John K. Ly and Jennifer L. Chor of Liang Ly LLP.
Representatives for the plaintiffs did not immediately respond to requests for comment Tuesday evening. Counsel information for the defendants was not immediately available.
