Class Urges NY Judge To Enforce $250K ATBCoin Settlement

Law360 (June 16, 2020, 6:41 PM EDT) — Investors who settled claims with digital asset startup ATBCoin LLC urged a New York federal judge on Tuesday to enforce the $250,000 deal, saying a letter filed by the company following the settlement agreement offered no explanation of ATBCoin’s “sudden inability to pay.”

ATBCoin — which is facing claims it conducted an unregistered securities offering in 2017 — backtracked on its proposed $250,000 settlement with investors in mid-May, telling a judge in the Southern District of New York that it can no longer afford the amount agreed to in April.

But the proposed class led by Raymond Balestra said the settlement agreed to by…

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