This week, Judge Haywood Gilliam of the Northern District of California appointed Kenneth Donovan, Hussien Kassfy, and John Brambl as Lead Plaintiffs, and appointed EKO as Lead Counsel, to pursue a class action on behalf of GYEN investors who lost millions when the purported stablecoin “broke” its peg to the Japanese yen and fluctuated wildly in value.
The order acknowledges Plaintiffs’ commitment to vigorously prosecute their claims, as well as EKO’s experience in complex nationwide class actions, including cases arising from financial fraud and violations of the federal securities laws, and cases involving cryptocurrency and stablecoins specifically.
The Court will hold a hearing in January 2023 relating to Defendants’ motions to dismiss the case, and a motion to compel arbitration. Please check the EKO website for updates early next year.
Right now, GYEN investors do not need to do anything to participate in the class action.
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