Company Capitalizing on Blockchain Mania Draws Securities Suit

One of the most distinct phenomena at the peak of the Internet bubble in the late 90s was the way that so many otherwise entirely ordinary companies added “dot com” to their names to try to cash in on the frenzy. It now looks as if some companies are attempting moves from the same playbook amidst the current cryptocurrency mania. Companies with no prior connection either to bitcoin or blockchain are adopting names or strategies as a way to try to ride the current wave, even where the companies have little or no experience with the technologies. Regulators noting these developments have started sounding the alarm bell. And in at least one instance, these kinds of developments have led to securities litigation.   One of the headline stories in the business pages over the last few months has been the surging prices for bitcoin and other cryptocurrencies. The surging prices have drawn a host of new ventures seeking to get in the action by conducting initial coin…

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