According to The Block, a federal court judge in Connecticut has reinstated the common law fraud charges against Barry Silbert, DCG, and other defendants in the Genesis Yield lawsuit, and allowed the federal securities law related charges to proceed. Judge Stefan Underhill accepted the plaintiff's argument regarding the Class Action Fairness Act and re examined the relevant state law claims. The case revolves around the Genesis Yield lending project, where investors accuse the defendant of misleading customers before Genesis filed for bankruptcy. The court simultaneously rejected consumer protection claims from four states and suspended claims from three other states.
