BlockFi Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of investors in BlockFi Interest Accounts (“BIAs”) between March 4, 2019 and November 28, 2022, inclusive (the “Class Period”), against Zac Prince, Flori Marquez, Amit Cheela, David Olsson, and Samia Bayou (together, “Defendants”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 1, 2023.

If you invested in BIAs during the Class Period and would like to join the action, please click “Join This Class Action.”

Class Period:March 4, 2019 through November 28, 2022
If you invested in BlockFi Interest Accounts you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, the Defendants made false and misleading statements to promote BlockFi Interest Accounts (“BIAs”), including that BIAs were a secure method of collecting interest. In addition, the Complaint alleges, among other things, that the Defendants omitted and concealed material information concerning the risks associated with BIAs, including through BlockFi’s exposure to FTX Trading, Ltd. (“FTX”) and Sam Bankman-Fried’s trading firm Alameda Research (“Alameda”), which collapsed in the wake of revelations that FTX and Alameda were engaging in fraud on a massive scale. In the wake of the FTX collapse, the lawsuit alleges that BlockFi froze withdrawals in BIAs, harming investors. Further, investors in BIAs were not aware of conflicts of interest and self-dealing between BlockFi and other entities, such as Gemini Trust LLC, controlled by Tyler and Cameron Winklevoss. The Complaint further alleges BlockFi and the Individual Defendants engaged in the unlawful offer and sale of securities in violation of Sections 5, 11, 12(a)(2), and 15 of the Securities Act of 1933 by selling BIAs to investors. The lawsuit also alleges claims for violation of Section 10(b) and 20 of the Securities Exchange Act of 1934 and Massachusetts General Law Chapter 110A.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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