In a continuation of ATBCoin’s class action lawsuit over its $20 million dollar Initial Coin Offering, or ICO, the lead plaintiff has filed to settle the case for 1.5% of the total raised. While ATB Coin claimed that its blockchain would be the fastest in the world, ATB’s launch revealed that its technology could not out-perform other ledgers. $20M ICO Suit to Settle for $250,000 In a motion for preliminary approval filed on April 10, the lead plaintiff in the suit, Raymond Balerta, has filed for a $250,000 settlement. The lawsuit accused ATBCoin of failing to file a registration statement …

If there’s anything to take away from this federal class-action suit, it’s that this new opinion on ATB Coin provides further guidance on when a token might be considered a security under securities law in the United States. For those with a legal background, this piece is set up in a similar way to a case brief you probably remember from law school. But even without a legal background, here’s some guidelines on how to read this. A traditional case brief outlines the factual background, issues, rule of law, and how that particular court applied the rule of law to …