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Defunct Bitcoin Exchange Mt. Gox CEO Fights Class Cert. Bid
Law360 (December 15, 2020, 9:20 AM EST) The former CEO of defunct Japanese bitcoin exchange Mt. Gox urged an Illinois federal judge Monday not to certify a class that claims it lost $400 million, saying there s a glaring problem with the claim that cites vague misrepresentations.
The February 2014 suit alleges Mark Karpeles, the former CEO of Mt. Gox and the sole remaining defendant in the suit, committed fraud by using the bitcoin exchange to collect $400 million worth of bitcoin and fiat currency from investors, blaming the loss on hackers.
But lead plaintiff Gregory Greene has presented inconsistent allegations and testimony about what his own claim for.
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