Plaintiffs firm Edelson PC has asked a federal judicial panel to consolidate class actions brought over the 2014 collapse of the bitcoin exchange Mt. Gox after a federal judge last year dismantled its case under the U.S. Supreme Court’s decision in Bristol-Myers Squibb v. Superior Court of California.
On Dec. 11, 2017, U.S. District Judge Gary Feinerman of the Northern District of Illinois found that named plaintiffs who weren’t from Illinois lacked jurisdiction under Bristol-Myers to bring a class action on behalf of Mt. Gox customers who lost $400 million in bitcoins and U.S. dollars after the exchange’s bankruptcy in 2014. On Jan. 24, Edelson, a Chicago firm founded by Jay Edelson, filed two new class actions on behalf of the dismissed plaintiffs—one in California and one in Pennsylvania. A week later, Edelson attorney Rafey Balabanian filed a motion before the U.S. Judicial Panel on Multidistrict Litigation to transfer all three cases back together before Feinerman.
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