EOS Foundation to sue Block​.one for alleged breach of $1 billion pledge

Potential plaintiffs in ENF's new lawsuit may need to opt out of further lawsuits against Block.one in order to participate.< /p > News Join us on social networks

The EOS Network Foundation (ENF) is the latest entity to take legal action against major investor Block.one (B1) over its alleged failure to honor $1 billion in investment commitments.

On July 25, ESF Founder and CEO Yves La Rose took to Twitter to announce that the foundation was preparing legal action against B1 for their "failure to meet their $1 billion pledge dollars".

The CEO mentioned that Block.one was already working to settle another class action lawsuit for $22 million after a previously proposed $27.5 million settlement with lead plaintiff Crypto Assets Opportunity was rejected by a American judge.

"You may need to opt out in order to participate in the ENF trial," La Rose noted.

According to La Rose, the class action lawsuit is still being settled after being initiated in 2017. The CEO also mentioned that plaintiffs who wish to withdraw from the lawsuit can contact attorney James Koutoulas.

The current deadline to make a claim or opt out of the class action is August 23, La Rose added, noting:

"If you opt out of the US class action, there is no guarantee that you will be able to bring another claim against Block.one, or that any such claim will be successful."

La Rose said the EOS community faced major problems due to what he called the failure of Block.one - which was the original creator and seller of the EOS token (EOS) - to fulfill its commitment to invest in the EOS network and community. He noted that the ENF has been active...