Secured stay of putative class action for securities fraud arising from Celsius Bankruptcy on behalf of crypto company founder against former partners who committed fraud
In November 2021, the Goines v. Mashinsky, et al., putative class action was filed, against Dynamis’s client and other former Celsius executives, in federal court in the District of New Jersey. The plaintiff alleges multiple securities claims, including securities fraud under the Exchange Act and the unregistered offer of and sale of securities under the Securities Act. Prior to moving to dismiss, Dynamis sought a stay pending related proceedings against Celsius’s former CEO, Mashinsky. The Court ultimately agreed, and the case is currently stayed. Once they stay is lifted, Dynamis will continue its vigorous defense of its client.