The law firm Roche Freedman LLP, on behalf of LUNA and TerraUSD (UST) investors, filed a class action lawsuit against the U.S. Bitcoin exchange Binance and its CEO Brian Schroeder.
According to the 72-page complaint, Binance.US offered unregistered securities to U.S. citizens, misleading them. Lawyers pointed out that the unit was not registered as a broker-dealer, thus violating local law.
According to investors, the exchange affiliate facilitated the sale of UST and participated in airdrop tokens “designed to increase trading volume.”
In May, Roche Freedman LLP partner Kyle Roche reached out to LUNA and UST investors who bought assets on Coinbase, Gemini and Binance exchanges, asking them to contact the firm for “assistance.”