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Court Approves Class Action Against the $70 Million Paragon ICO

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A California federal court recently accepted a petition from a plaintiff for bringing a class-action lawsuit against Paragon ICO. The Paragon Coin was the crypto token of the cannabis firm which raised $70 million from investors.

Paragon has a sketchy history

This is not the first time that Paragon’s crypto ambitions have been challenged. The company was earlier fined and was forced to register its coin as security. The company raised $70 million via a 2017 Initial Coin Offering (ICO) and aimed to make the Paragon coin of PRG coin the de facto cryptocurrency for the cannabis industry.

The district ...

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