{"id":64873,"date":"2022-07-25T19:53:32","date_gmt":"2022-07-25T16:53:32","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64873"},"modified":"2025-09-06T16:50:02","modified_gmt":"2025-09-06T13:50:02","slug":"u-s-class-action-filed-against-celsius-network","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/u-s-class-action-filed-against-celsius-network\/","title":{"rendered":"U.S. class action filed against Celsius Network"},"content":{"rendered":"<p>The law firm Bragar Eagel &#038; Squire, P.C., filed a class action in the District of New Jersey against the cryptocurrency-lending platform Celsius Network. <a href=\"https:\/\/www.businesswire.com\/news\/home\/20220724005039\/en\/CELSIUS-ALERT-Bragar-Eagel-Squire-P.C.-Announces-that-a-Class-Action-Lawsuit-Has-Been-Filed-Against-Celsius-Network-LLC-and-Other-Defendants-and-Encourages-Investors-to-Contact-the-Firm\">\u0433\u043e\u0432\u043e\u0440\u0438\u0442\u0441\u044f<\/a> in a press release.<\/p>\n<p>Defendants include Celsius Lending LLC, Celsius KeyFi LLC, and the company\u2019s chief, Alex Mashinsky. They, the lawyers allege, violated the Securities Exchange Act and misled investors regarding \u201ctheir financial products.\u201d<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe price of CEL tokens fell from a peak of $7.73 [recorded] on June 3, 2021 to a low of $0.28 [\u2026]. Celsius and its affiliates, along with certain defendants, also violated the Securities Act by offering unregistered securities\u201d, the firm said.<\/p>\n<\/blockquote>\n<p>The lawyers represent individuals and entities who invested in Celsius.<\/p>\n<p>On June 13, the platform <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-token-plunges-50-amid-withdrawal-suspension\">suspended withdrawals, exchanges and transfers<\/a> between accounts. A month later, on July 14, Celsius Network and some of its subsidiaries <a href=\"https:\/\/u1f987.com\/en\/news\/celsius-files-for-bankruptcy-protection\">filed for bankruptcy<\/a>.<\/p>\n<p>In the same month, the company unveiled a restructuring plan focused on its mining unit.<\/p>\n<p>Earlier, the DeFi contractor Celsius KeyFi Inc. <a href=\"https:\/\/u1f987.com\/en\/news\/defi-contractor-celsius-accuses-platform-of-fraud\">filed a suit against the lending platform<\/a>, accusing it of failing to fulfil contractual obligations.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Telegram<\/a> \u2014 crypto news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The law firm Bragar Eagel &#038; Squire, P.C., filed a class action in the District of New Jersey against the Celsius Network cryptocurrency-lending platform, according to a press release.<\/p>\n","protected":false},"author":1,"featured_media":64874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1348,1162],"class_list":["post-64873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-celsius-network","tag-court-cases"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=64873"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64873\/revisions"}],"predecessor-version":[{"id":64875,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/64873\/revisions\/64875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/64874"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=64873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=64873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=64873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}