Unikrn hit with class action lawsuit

CryptoTC

Crypto Fat Cat
Staff member
It seems a disgruntled investor has filed a lawsuit against Unikrn over the UnikoinGold token ICO. Citing possible securities violations, the class action representative plaintiff seems to be miffed that he bought $2,500 worth of UKG at the ICO price of $0.30, and it is now worth $0.05.

Mark Cuban-Backed Unikrn ICO Hit by Class Action Lawsuit - CoinDesk

It seems to me the plaintiff is ignoring a couple of major points:

1. No one forces you to buy a token or participate in an ICO.
2. The token price soared to several times the ICO price in the crypto bubble early 2018, during which time he could have sold at a large profit.
3. The costs of a CAL vastly outweigh $2,000 investment loss, except to the plaintiff lawyers.
4. UKG price moves mimic the entire altcoin market prices since release. UKG isn’t unique in its 90% loss of value.
5. If you want to recoup investment losses, suing the company and creating bad press isn’t going to help with market price rebounds.

I am so tired of everyone blaming everyone else for every misfortune or less than desirable circumstance or outcome experienced in their lives. No one forces you to buy crypto. The volatility is well-known.

Man up and take responsibility for your own investment actions instead of whining to a set of greedy ass lawyers who are licking their chops at getting millions while the class of plaintiffs will get a coupon for one free eSports bet on the Unikrn platform if they win.

You chose to buy a risky token at ICO for a speculative platform that doesn’t yet exist. Yet somehow you believe you were mislead? I call BS. The plaintiff is either lying or stupid as ****.

<comments are opinion of the author and not reflective of any official opinion of TCF, TEF or parent company BWG>
 

UrbaneUKG

Moderator
As an employee of Unikrn I cannot say much other than we will fight this vigorously with our legal counsel. As this is a warrant-less complaint.
 

CryptoTC

Crypto Fat Cat
Staff member
As an employee of Unikrn I cannot say much other than we will fight this vigorously with our legal counsel. As this is a warrant-less complaint.
It does seem like just an unhappy investor who lost money rather than a true complaint with validity. If current token price was above ICO price, I doubt he files this claim.

He could’ve sold above $2 and then bought back now, but hindsight makes many false millionaires.
 
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