The Old Harris County Courthouse, home of the First Court of Appeals of Texas, in Houston, Harris County, Texas. Photo: i_am_jim via Wikimedia CommonsTexas Lawyer, Client Sued for $10 Million Over Bitcoin Mining Deal
“With 20/20 hindsight, Blockware could have avoided this whole problem by contracting directly with Bitmain instead of going through a middleman,” said Bob Jarvis, a professor at Nova Southeastern University College of Law who is not involved in the matter.
December 12, 2024 at 02:25 PM
4 minute read
What You Need to Know
- A Bitcoin mining company sued a securities law firm, its managing partner and its client.
- The company alleged breach of contract, fraud and additional claims, seeking damages in excess of $10 million.
- At one point, the attorney defendants claimed that revealing the account executive his client used to arrange the deal would reveal “a trade secret” equivalent to “the secret sauce of its business.”
A Bitcoin mining company alleged in a lawsuit filed in a Texas state court that it was defrauded by a securities law firm, its managing partner and its client, who claimed he could deliver Bitcoin mining equipment and, as a result of this false claim, allegedly pocketed nearly $4 million.
Bob Jarvis, an ethics expert at Nova Southeastern University College of Law, is not involved in the case in which the plaintiff, Blockware Solutions LLC, sued the defendant, American Mining Warehouse LLC, and its managing member Tyler Deboer, along with Samuel Whitley and his law firm, Whitley. Jarvis said that if the allegations are true, what remains to be determined is how culpable Whitley is.
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