Centra Tech Investors Get Class Status in Coin Offering Case

Sept. 13, 2021, 5:03 PM

Centra Tech Inc. investors who say the company misled them about its initial coin offering may pursue their securities fraud case as a group after a federal judge in Florida certified their class.

Investors purchased digital tokens as part of Centra Tech’s 2017 ICO, during which the company falsely promised partnerships with Visa and Mastercard, leading its founders to plead guilty to securities and wire fraud. The U.S. District Court for the Southern District of Florida initially rejected the investors’ class certification bid but approved it after the Eleventh Circuit weighed in.

The district court adopted the U.S. Court …

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