Newslines lets you create cool news timelines about your favorite people and products. Register now!
Mt. Gox

U.S. citizen files class action lawsuit

27 Feb, 2014

Gregory Greene, of Illinois, files a class action lawsuit against Mt. Gox for its loss of approximately 750,000 Bitcoins valued at more than $400 million. Filed in the U.S. District Court in Chicago, the 32 page legal complaint accuses Mt. Gox and Mark Karpeles of consumer fraud and negligence for failing to provide the necessary security to prevent theft of the Bitcoin reserves, as well as claims they are guilty of breach of fiduciary duty, breach of contract, and unjust enrichment. Although Greene is the only named plaintiff in the suit, the complaint lists “all persons in the United States who had Bitcoins or Fiat Currency stored with Mt. Gox on February 7, 2014.”