NEW GRANTS ARRIVING FOR THE EXCHANGE FOR A LONG TIME IN THE SIGHT OF THE SURVEILLANCE AUTHORITY ON CONSOB MARKETS FOLLOWING THE LACK OF COMPENSATION PROMISED TO INVESTORS DAMAGED BY THE CONTINUOUS BLOCKS OF THE TRADING SERVICE: ACTION OF CLASSI MILANO AGAINST BINANCE
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The numerous friendly conciliation attempts undertaken by Lexia Avvocati which, afterwards the official promise of CZ Changpeng Zhao CEO of Binance, then unfortunately ignored by the concrete facts, was forced to undertake a series of initiatives against Binance (one of the main cryptocurrency exchanges in the world, recently chosen as the main sponsor of the SS Lazio team) in relation to the inefficiencies of the Binance Futures platform and the offer in Italy of derivatives on cryptocurrencies.
In recent days, the Firm has initiated a class action, pursuant to art. 840-bis and ss. cpc, before the Court of Milan at the Section Specialized in business matters.
The class action – brought against the main companies belonging to the Binance group, as well as against its founder and CEO, Mr. Changpeng Zhao and some former directors of the companies of the Binance group – constitutes one of the first applications of the new discipline on the subject, made operational with the Decree-Law October 28, 2020, n. 137, converted with amendments by Law 18 December 2020, n. 176.
The launch of the class action comes at the height of an intense activity carried out by the Firm in the previous months, which allowed, among other things, to highlight the numerous criticalities of the Binance platform, bringing them to the attention of the Supervisory Authorities of numerous Foreign states and Consob.
The conduct carried out by Binance is also being examined by the Public Prosecutor’s Office at the Court of Milan following a complaint presented by some stakeholders.
To date, there have been numerous Italian and foreign investors who have given a mandate to the Firm, complaining of damages for tens of millions of euros.
The Firm will continue to cultivate the aforementioned initiatives and any further activity aimed at protecting its clients and all those who will contact the Firm in relation to this matter.
Investors are assisted by Lexia Avvocati with a team composed of the Managing Partner Francesco Dagnino, the Partner Angelo Messore and the Senior Associate Michele Mennoia assisted by the Associates Ilaria Vigorosi, Nicola Giliberti, Carlo Giuliano and Filippo Maria Belfatto. Internal activities are also coordinated by Roberto Ghio and, for criminal matters, by Paolo Di Fresco, both Of Counsel of Lexia Avvocati.
