Law360 (June 14, 2021, 8:05 PM EDT) — Perkins Coie LLP has urged a Washington federal court to compel arbitration and pause a proposed class action over allegations that it misappropriated at least $10 million that it had agreed to hold in escrow and distribute in relation to offerings in the cryptocurrency market.
Because buyers of the so-called tokens involving electronic cryptocurrency activity had agreed to arbitrate any disputes that arose, the Eastern District of Washington should pause the litigation initiated in December by investor Jun Dam so arbitration can proceed, according to the firm’s Friday motion to compel.
“The … Token Purchase Agreements control the purchase and sale of the…
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