NEW YORK, March 08, 2022 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, today announced that it has filed a class action lawsuit against Defendants SafeMoon LLC, SafeMoon US, LLC, SafeMoon Connect, LLC, Tano LLC, SafeMoon LTD, SafeMoon Protocol LTD, and SafeMoon Media Group LTD (collectively, “SafeMoon” or the “Company”), Jake Paul, Nick Carter, DeAndre Cortez Way, Ben Phillips, Miles Parks McCollum, and Daniel M. Keem (the “Promoter Defendants”), and Individual Defendants Shaun Witriol, Ryan Arriaga, Jack Haines-Davies, Henry “Hank” Wyatt, Thomas Smith, Kyle Nagy, and the Company’s Chief Executive Officer, Braden John Karony (together with the Promotor Defendants and SafeMoon, the “Defendants”).
The action, which was filed in the U.S. District Court for the Central District of California and captioned Blacksher v. SafeMoon LLC et al., Case No. 2:22-cv-01527, asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C. §§78j(b), and 78t(a), and other California state consumer protection laws, on behalf of investors who purchased or otherwise acquired the digital assets of SafeMoon (sold as tokens under the ticker symbol “SAFEMOON” on various cryptocurrency exchanges including PancakeSwap) from March 8, 2021 through March 7, 2022 inclusive (the “Class Period”), and who were damaged thereby. The lead plaintiff deadline in this action is May 9, 2022.
If you purchased SafeMoon digital asset tokens between March 8, 2021 and March 7, 2022, inclusive, and have suffered significant losses, realized or unrealized, you are encouraged to contact Scott+Scott attorney Sean Masson (212) 519-0522, or via email at smasson@scott-scott.com, for more information.
SafeMoon is a cryptocurrency-related company that offers investors various financial products associated with decentralized finance.
The complaint alleges that Defendants violated provisions of the Exchange Act by making false and misleading statements concerning SafeMoon’s growth prospects, financial ownership, and financial benefits for SAFEMOON token investors, as well as using celebrity promotors to lure in unsuspecting investors so that SafeMoon insiders could sell off their holdings into artificially created volume.
On December 31, 2021, the price of the SAFEMOON Token hit a low of $0.0000006521 per token, an over 80% drop from its height during the Class Period, which it has not been able to recover.
Lead Plaintiff Deadline
The lead plaintiff deadline in this action is May 9, 2022. If you wish to serve as lead plaintiff, you must move the Court no later than May 9, 2022. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain a member of the proposed class.
If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact Plaintiff’s counsel, Sean Masson of Scott+Scott, at (212) 519-0522 or via email at smasson@scott-scott.com.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States, and is actively litigating several cryptocurrency cases. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, Ohio, and Virginia.
CONTACT:
Sean Masson
Scott+Scott Attorneys at Law LLP
230 Park Ave, 17th Floor, New York, NY 10169
(212) 519-0522
smasson@scott-scott.com
