A pair of crypto-investment companies and their founder filed a legal malpractice lawsuit against Faegre Baker Daniels in Illinois on Tuesday, accusing the Am Law 100 law firm of providing “erroneous” and “inaccurate” advice that put them in hot water with securities regulators.

Chicago-based Faegre partner Jeffrey Blumberg allegedly told Crypto Assets Fund and its founder Timothy Enneking that the crypto assets they sought to offer investors were not securities, according to the six-page lawsuit filed by CAF and Enneking in Cook County Circuit Court.

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