Scott + Scott To Lead Consolidated Crypto Inflation Action

By Sarah Jarvis (June 9, 2022, 1:22 PM EDT) — Scott + Scott Attorneys at Law LLP will serve as lead counsel in a consolidated proposed class action accusing executives at cryptocurrency wallet company SafeMoon of hyping the company’s digital token, then selling off their stakes before trading volume tanked.

Tuesday’s order from Judge Stephen V. Wilson of the U.S. District Court for the Central District of California consolidated a proposed class action brought in February by a group of token buyers, led by Bill Merewhuader, with another proposed class action brought by plaintiff Kayla Blacksher.

A trio known as the SafeMoon investors group — consisting of proposed class members Mark Combs,…

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