We wanted to update the readership, on this suit — since she’s back from maternity leave (genuine congrats, on the baby girl, now two years behind your baby boy, BTW!) as of this Friday, and because… the federal securities class action plaintiffs in the middle district of Florida have completely revamped and amended their 104 page complaint, as of two weeks ago, thus:
…Owens’ promotional post generated a lot of media attention, and Newsweek noted that the value of LGBCoin rose more than 37% in value in the days leading up to her tweet….
Even more importantly, the trading volume of LGBCoin spiked over 425% the day after Owens’ announcement that she was “ALL IN” on LGBCoin, according to historical price data from Coinmarketcap.com….
[The main promoter of the coin wrote] I know Candace Owens has promoted this coin. There’s going to be some other very big names, very soon. They’re going to be talking about it and uh, this is your chance to get in early…. Please share this with as many people as you can — 10, 25 friends, 50 friends. Share it, let’s get the word out, we need to — we need to bless [Koutoulas]….
[To be clear, the prior complaint named her personally, as a named defendant/target — through discovery, the plaintiffs may re-add her as a named defendant, once they learn exactly where her coins are, or went.] This is going to cost the couple. Millions? I don’t know.
But it is well-pleaded. And the law is clear: one cannot promote something one is selling off, in the same breath, under the applicable federal securities fraud laws.
Buckle-up — it will be entertaining.
Powerline Lies... 