Class action against MtGox filed in Chicago.

[repentance]

http://www.scribd.com/doc/209741761/Greene-v-MtGox-Inc-Mt-Gox-Class-Action

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[efrix]

http://www.scribd.com/doc/209741761/Greene-v-MtGox-Inc-Mt-Gox-Class-Action

Is it possible to join that? For non us residents too?
thanks.

[repentance]

http://www.scribd.com/doc/209741761/Greene-v-MtGox-Inc-Mt-Gox-Class-Action

Is it possible to join that? For non us residents too?
thanks.

The action specifically defines the class as US customers.  The contact details for the law firm handling it are listed at the end of the document so US customers could contact them if they wanted to join the action.

[CompNsci]

This lays out the case for breach of fiduciary duty quite nicely.

We can hope, I suppose, that the 740k BTC are "temporarily unavailable" and "not lost yet" because they are incorporated into a trust which the bankruptcy court will have control over.

If true, I guess we can also hope that Mark Karpeles spends some significant time in prison due to his recent alleged attempts at manipulation and deceit.

[heavyb]

I was in the process of having $2200 deposited in my account from bitcoins I sold. I had been waiting since late November. I have about 10-15 emails from them in which they repeatedly tell me the delay in transfer is due to "a change in their processing procedure". In my opinion this amounts to fraud as they were lying to me for all these months knowing I would never receive my money.

[hostmaster]

I can see. Marks head is in big trouble.

[Armis]

This lays out the case for breach of fiduciary duty quite nicely.

We can hope, I suppose, that the 740k BTC are "temporarily unavailable" and "not lost yet" because they are incorporated into a trust which the bankruptcy court will have control over.

If true, I guess we can also hope that Mark Karpeles spends some significant time in prison due to his recent alleged attempts at manipulation and deceit.

sadly, the lawyer who prepared the document choose to ignore the fact that Mt Gox had a history of such unscrupulous actions, it was not more than 9 month prior to the most recent debacle that Mt Gox orchestrate another debacle.  According to some industry pros Mt Gox goxxed the cryptocurrency community upwards of 7 times.  

I read the MG Terms of Service agreement today and was shocked at what I saw.

The lawyer also spoke of "industry standards" which made me laugh, because I know there are no industry standards, and if there were MG would have been the one to create it considering he was the first to have a CC exchange.  

This class action case is totally dependent on a criminal case, if you can't show that MG has the money then there is no money to be had.  


My position on this matter is simple, FOLLOW THE MONEY, unlike all fiat btc has a "paper" trail -- the block chain.  ALL of the proof is there for you to find, just do the pain staking homework to find it.  Either you will find Mark on the other end of it or not, given how he ran things, I'm guessing you will find mark on the other end of it.

 





  

[repentance]

sadly, the lawyer who prepared the document choose to ignore the fact that Mt Gox had a history of such unscrupulous actions, it was not more than 9 month prior to the most recent debacle that Mt Gox orchestrate another debacle.  According to some industry pros Mt Gox goxxed the cryptocurrency community upwards of 7 times.  

I read the MG Terms of Service agreement today and was shocked at what I saw.

The lawyer also spoke of "industry standards" which made me laugh, because I know there are no industry standards, and if there were MG would have been the one to create it considering he was the first to have a CC exchange.  

This class action case is totally dependent on a criminal case, if you can't show that MG has the money then there is no money to be had.

My position on this matter is simple, FOLLOW THE MONEY, unlike all fiat btc has a "paper" trail -- the block chain.  ALL of the proof is there for you to find, just do the pain staking homework to find it.  Either you will find Mark on the other end of it or not, given how he ran things, I'm guessing you will find mark on the other end of it.

One thing I don't entirely understand is that usually you would name as many potential defendants as possible and leave it up to them to try to get themselves dismissed from the case.  On page 2 of the filing, the Business Plan MtGox 2014-2017 is referred to in the footnotes.  On page 4 of that Business plan, Jed McCaleb is named as one of the principals of MtGox (12%), the other being Tibanne (88%).  And yet Jed McCaleb isn't named as a defendant in the lawsuit as an individual while Mark Karpeles is.  That seems very...sloppy to me, especially in a case where it's extremely likely that attempts would be made to pierce the corporate veil and attach personal liability to MtGox principals.

 





  

[nopedope89]

I can see. Marks head is in big trouble.

I wish to see soon his head in the (_|_) as he is incompetent

[Armis]

sadly, the lawyer who prepared the document choose to ignore the fact that Mt Gox had a history of such unscrupulous actions, it was not more than 9 month prior to the most recent debacle that Mt Gox orchestrate another debacle.  According to some industry pros Mt Gox goxxed the cryptocurrency community upwards of 7 times.  

I read the MG Terms of Service agreement today and was shocked at what I saw.

The lawyer also spoke of "industry standards" which made me laugh, because I know there are no industry standards, and if there were MG would have been the one to create it considering he was the first to have a CC exchange.  

This class action case is totally dependent on a criminal case, if you can't show that MG has the money then there is no money to be had.

My position on this matter is simple, FOLLOW THE MONEY, unlike all fiat btc has a "paper" trail -- the block chain.  ALL of the proof is there for you to find, just do the pain staking homework to find it.  Either you will find Mark on the other end of it or not, given how he ran things, I'm guessing you will find mark on the other end of it.

One thing I don't entirely understand is that usually you would name as many potential defendants as possible and leave it up to them to try to get themselves dismissed from the case.  On page 2 of the filing, the Business Plan MtGox 2014-2017 is referred to in the footnotes.  On page 4 of that Business plan, Jed McCaleb is named as one of the principals of MtGox (12%), the other being Tibanne (88%).  And yet Jed McCaleb isn't named as a defendant in the lawsuit as an individual while Mark Karpeles is.  That seems very...sloppy to me, especially in a case where it's extremely likely that attempts would be made to pierce the corporate veil and attach personal liability to MtGox principals.

 

the lawyer either sees this for what it is -- 'a won case for a lost cause' as such take what he can get in legal fees from the client and hope for the best, ORRR as you said he needs to cross many more 't's, and dot many more 'i's.  Don't forget he could amend his complaint.   Given that the class is 1000 strong it was probably the right choice to be the first in.   

The case is still a lost cause, because either the money is not found and everyone gets $.10, or the money is found and they get  80% of it's value 3 years from now.

 

[roslinpl]

http://www.scribd.com/doc/209741761/Greene-v-MtGox-Inc-Mt-Gox-Class-Action

Hehe ! That is very nice! Kick MtGox asses!

You have green light!


Kind regards!

[Wanesst]

I'd like to join that! It's very nice

[Predatorian]

I hope they gonna be totally raped for that action, gl with this m8.