The Google, Facebook, and Twitter Class Action Lawsuit Gaining Global Attention

in LeoFinance •  2 months ago 

The $300 billion Crypto class action lawsuit against some of the largest tech heavyweights is getting more eyeballs

In several news outlets the other day, the $300 billion crypto class action lawsuit being spearheaded by several of our own in @jpbliberty @apshamilton and @brianoflondon, was mentioned by a major news outlet.

The Daily Mail ran this yesterday:

(Source: https://www.dailymail.co.uk/news/article-8444385/Google-Facebook-Twitter-sued-Australian-class-action-cost-300-billion.html)

This is the first time I can recall seeing this mentioned anywhere outside of a press release put out over a year ago.

It was also posted here:

https://www.ibtimes.sg/google-facebook-twitter-face-300-billion-class-action-lawsuit-australia-48699?utm_campaign=/google-facebook-twitter-face-300-billion-class-action-lawsuit-australia-48699

Some of the details...

If you are new or don't recall, this lawsuit has to do with how Facebook, Google, and Twitter all banned crypto advertising on their platforms shortly before the prices of crypto assets dropped dramatically in early 2018.

Whether or not those bans actually caused the prices to drop (and by how much) is up for a court to decide, but doesn't seem like much of a stretch to assume that the bans were not good news for start up crypto companies and newly created exchanges and projects...

It's pretty easy to see that it was a negative for the industry as a whole, and when you add in the fact that Facebook then went about creating (and launching eventually?) their own cryptocurrency, it looks very much like they were actively working against their competition.

I am no lawyer so I have no idea how likely this case is to eventually reach a settlement or make it to court, but it does look like it's worth the shot.

You could still join the lawsuit if you haven't yet...

The amount of money involved here is truly staggering and if you owned crypto around the time of the ad bans, you could also be part of the settlement (should their be one).

So, just from that standpoint it probably makes sense to sign up for the class action lawsuit, especially since it costs nothing to do so.

The link can be seen here:

https://jpbliberty.formstack.com/forms/class_member_signup?Referral=tic-technology

I signed up for this roughly a year ago and think there is a halfway decent chance that there is at least some form of settlement here, though as I mentioned above, I'm no lawyer.

They also have a proposal to help with funding the lawsuit listed on the "proposals page", more of which can be seen here:

https://hive.blog/steemproposals/@jpbliberty/sps-proposal-class-action-lawsuit-against-facebook-google-and-twitter-s-crypto-ad-ban

I for one wish them the best of luck, and hope for a speedy resolution so we can take some of that windfall and invest it back into our favorite crypto project here. :)

Stay informed my friends.

-Doc

Posted Using LeoFinance

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At the very least, the process of discovery will air out all kinds of dirty laundry.

It has zero chance of success.
It's like Nigerian scammers suddenly trying to sue the Western world for stopping them from running Rich Prince scams.

Crypto and ICOs cemented the reputation.
Because fools be fools and come like a flood where money be promised.

We have a major law firm that has done hundreds of hours of work for free because they believe it has a decent chance.

More than half a dozen experienced lawyers including junior and Senior Counsel have looked at this and no one has found a legal flaw.

What's the basis of your opinion?

Lawyers have a saying..
"When we win we win, When they lose we win"
I'm kidding I made that up.
That's the reality though.
I'm not at all a legal expert but from point of lawyers (which are soulless).. sure it's got novelty and potential for big publicity.
My opinion is based on the state of society.
Crypto is mainly a boy's toy.
Crytpo is the wild west and needs regulation.
Platforms are digging in on the control of information.
Governments are too (despite pretending to go against platforms).
It would be difficult to prove there was truly malicious intent when a platform can claim they acted in the interest of public. Those that lost a lot could then reform but it's hard to be victim in a new money industry with bad reputation and filled with shady actors. It's done more damage to itself than the cancellation of ad campaigns.
Self regulation is what it needs before it seeks sympathy.
Players within the industry should be calling out those bad actors.
Show that you really care about the true victims.
The ones who fall for the WHEN MOON/LAMBO and put in their few dollars thinking this is that "financial solution" that it's promised as.

  ·  2 months ago Reveal Comment

This perception of an over abundance of scams in crypto, which you will be unable to find solid numerical evidence for, is one of the complaints in our case! Facebook told the entire world that crypto was "frequently associated with false and deceptive practices" and then set about work on their own Crypto currency that same month.

Very few "crypto scams" are unique to crypto. Crypto has made some frauds, which are as old as money itself, easier to complete online but that isn't the fault of the crypto. Credit card fraud still dwarfs anything that goes on in crypto.

Actual scam ICOs (as opposed to crappy business ideas raising money and spending it) do exist, but they're not the majority. Scam artists taking money and saying it is for an ICO is, likewise, an investment scam but not unique or specific to crypto.

Just last week there was a case of a chap who claimed to be investing in crypto, took money as crypto and regular bank deposits from friends and acquaintances, then blew it all gambling online. Headlines said "crypto scam" but it was just a money scam.

Nigerian scams were always scams, that is obvious. There are many solid businesses in Web 3.0 which are rising up and it is clear the tech has legs. Can it reach mass adoption? It needs many things to be done better internally (UI UX etc.) but it also needs to reach new people and the best way to do that is advertising and viral growth. The social media giants squashed both.

Low RC
Bck L8r..

I don't see the outcome you all desire because ultimately the defence will be, since it's an unregulated industry. The platforms acted in the interest of public. That will then mean no class action in defence of whole crypto community. The argument of unfair business practice can continue to exist. From there a case of prominent businesses that DID suffer (can be proven) can proceed. This is in effect already in some countries. I'm sure you are aware of the lawyer case against a damaging review left on Google. Ruling in this regards DOES HOLD in the legal system.
TO prove that They acted maliciously exclusively though is what cannot be proven within the legal system. Crypto really destroyed it's reputation when the wild west became it,, with the ICO madness that YOU yourself accept as damaging. The other major hurdle is that currently there is still shady entities running questionable projects. MLM seems to have even become the default system here for recruiting users. The promise of referral rewards is not a good look and only attracts poor.
Appics for instance is a project which really died long ago but they continue to try to market the same "test app" that they've had for over 3 years. They have a pay gateway to take money for a token which is in Beta.. and that is completely illegal. They know it.
This is why this crypto world has no real MASS ADOPTION FUTURE.
Just Sharks coming up with new ways to take money from the foolish.
IF this was truly DECENTRALISED.. then people would and should be calling out bad actors, because it only hurts everyone in the long run. Yet everyone is nose deep into their own money game and don't think at at all how the bad is hurting their own endeavour.
Anyway I was going to do an elaborate, much more professionally presented opinion but really what do I care. You all are the ones committed to this. Both in time and in money. You WILL need to address those issues and many more though.. because at some point you got to ask.. "If this is so good.. why the hell is it failing?"
I don't see HIVE existing as that thing bloktrades and theycallhimdan keep believing will happen.
Proposals out the wazoo and again.. all thinking the MLM model is the solution.

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they are getting what they deserve screw tech ain't for to much control our social media

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@themarkymark Isn't it time Bernie was added to your global blacklist. This is abuse.

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