On Aug. 9, 2021, Roche Freedman LLP, a law firm that represents clients in some of the most significant disputes in the crypto space, filed a class-action lawsuit against the Dfinity Foundation, Dfinity USA Research LLC and Dominic Williams, in federal court in California. The lawsuit alleges that Dfinity, the company behind Internet Computer, misled investors into believing that Dfinity and its insiders would not — and could not — sell their ICP tokens on May 10, 2021, the day that ICP first became tradable on exchanges, or in the weeks that followed. In reality, as alleged, Dfinity and its insiders could — and did — sell massive amounts of ICP during that period, thus securing substantial profits for themselves at the expense of outside investors, while causing the price of ICP to collapse.
Dfinity insiders alleged to have illegally sold ICP and harmed retail investors
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