News+

ICO securities class-action against Unikrn is kept out of arbitration, but is that bad for them?

Quick Take

  • Hastings v. Unikrn, Inc. 2020 Wash.App. LEXIS 808, is a new Washington State court of appeals decision involving a putative securities class action arising out of 2017 token sale.
  • Defendants moved to compel arbitration based on an arbitration clause in the sale’s terms of service.
  • The Court said that there wasn’t sufficient evidence to find that the buyer had agreed to the terms, so it affirmed a trial court ruling keeping the case out of arbitration and in court.
  • The case illuminates the challenge of creating a work flow that can be used to enforce online terms of service.
  • It also raises questions about the pros and cons of arbitration, which are discussed following a summary of the court’s opinion.
A court has refsused to enforce an arbitration clause in an ICO securities class action. Here's why that matters.

Subscribe to The Block News+ to
Unlock this Feature

Choose Your Plan

Save $ vs. paying monthly

Annual

$
per year
Join Now

Monthly

$
per month
Join Now

Questions?

If you want to know more about what you get with a Membership, or you need help convincing your manager, we got you covered. You can find the details and learn more about the benefits by clicking the link below.

Trending Stories

More