The process behind starting a class action is not always simple unless suffering investors have substantial claims since the beginning.
Our platform works in three stages:
1. Gathering investors into a pool with adequate claims to commence the legal procedures. This may take time as we need to spread the information across the relevant communities and gain the subscription of members. In this phase, users will express non-committal participation to the class action and permit us authorisation to contact them once the pool is formed.
2. Once enough claims are compiled, our team contacts each individual member asking for a mandate to represent them in the lawsuit. Members are required to electronically sign a power of attorney agreement and document their financial loss. A questionnaire is also sent to highlight the rules that will be applied to pre-settlement negotiations and distribution of the proceedings among class members.
3. The complaint starts and our partnering law firm – based on the relevant jurisdiction – approaches the issuer requesting a pre-settlement. If this request is refused, the complaint is filed with the court.
As our organisation firmly endeavours to avoid upfront legal and marketing fees, we wholeheartedly need the support of the crypto community in terms of donations, endorsement and word of mouth to succeed. We believe we will never be able to restore justice and fairness if the support of the entire community is missed.