Investigation
LegalZoom.com, Inc. (LZ)
Whether directors and officers of LegalZoom.com, Inc. (LZ) breached their fiduciary duties to the company and its shareholders.
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Investigation
03/30/2022
Initial Lawsuit
04/28/2022
Lawsuit Progression
07/11/2022
A Voyager Digital Ltd. investor who purchased/enrolled into the Earn Program Account and used the Voyager Platform to place cryptocurrency investment orders, filed a class action lawsuit against the company. The complaint seeks to represent the following Nationwide Classes and Florida Subclasses:
“(1) Nationwide Voyager Class: All persons or entities in the United States who, within the applicable limitations period, purchased or enrolled in a Voyager Earn Program Account (EPA).
(2) Florida Voyager Subclass: All persons or entities in the state of Florida who, within the applicable limitations period, purchased or enrolled in a EPA.
(3) Nationwide VDL Class: All persons in the United States who, within the applicable limitations period, used the Voyager Platform to place cryptocurrency investment orders.
(4) Florida VDL Subclass: All persons in the state of Florida who, within the applicable limitations period, used the Voyager Platform to place cryptocurrency investment orders.”
Excerpt
“. . . The Voyager Earn Program Account (“EPA”) is a security within the meaning of Section 2(a)(1) of the Securities Act, 15 U.S.C. § 77b(a)(1) because it is a “note” and an “investment contract.”
The EPAs were not registered with the SEC.
Voyager sold and offered to sell the unregistered EPAs to Plaintiff and Nationwide Class members, in violation of 15 U.S.C. §§ 77e(a).
Plaintiff and members of the Nationwide Class suffered damages as a result of their purchase of the unregistered EPAs securities through Defendants’ website and/or application.
As a result of Voyager’s unregistered sale of the EPAs securities, Voyager is liable to Plaintiff and the members of the Nationwide Class. 15 U.S.C. § 77l(a).
WHEREFORE, Plaintiff, on behalf of himself and the Nationwide Class members, demands judgment for rescission and/or compensatory damages, in addition to prejudgment interest, reasonable attorneys’ fees, costs, post-judgment interest, and any and all further relief deemed just, equitable, and proper. . .”
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