/biz/ - Business & Finance

>>49928787
From reading the latest on the class action lawsuit the plaintiff's allegation that nexo is a single entity was denied, but with some factors weighing in support. I'd bet they're purging records in case someone does some sleuthing and comes up with sufficient evidence in the future

"Plaintiff additionally points to several public statements by Nexo and its co-founders referring to the Nexo entities as a single entity “Nexo” and characterizing the entities as part of a single “global enterprise.” See Complaint, ECF No. 1 ¶¶ 24, 25, 27; see also Id. ¶¶ 23(b), 28. Nexo argues that such allegations are “legally immaterial.” Motion, ECF No. 27 at 9. The Court does not agree with Nexo that such allegations are completely immaterial to Plaintiff's single-enterprise liability claim. Courts have found that such allegations support a finding of unity of interest."

Plaintiff is btfo'd on this count, but in a later bit it says "The Court does not consider it appropriate for Plaintiff to make bare, unsupported allegations like, “These Nexo entities commingle funds and assets, failing to segregate funds, ” wait for Nexo to controvert these allegations, and then seek jurisdictional discovery because “pertinent facts bearing on the question of jurisdiction are controverted.” See Complaint, ECF No. 1 ¶ 23(c);. Such an approach smacks of a fishing expedition-in other words, it appears that Plaintiff is seeking jurisdictional discovery based on a mere “hunch, ” which courts have found to be insufficient." So if you can get some good evidence that point stands. The wider case is still open with picrel