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On August 16, the SEC filed a Complaint against Dragonchain, Inc. its affiliated companies and its founder, Joe Roets alleging that they sold unregistered securities. Allegedly, Dragonchain first raised $1.4 million in a pre-sale of DRGNs to 68 members of a crypto investment club, and in October /November 2017, raised $12.3 million from about 5,000 investors in an initial coin offering. In response to the SEC Wells Notice, Roets proclaimed "I am Joe Roets. I am not a lawyer nor venture capitalist. I am a software engineer, businessman, entrepreneur, husband, father, and patriot." Guest blogger Aegis Frumento Esq. got a chuckle out of Roets response, and the veteran industry lawyer shares his thoughts on how things unfolded.
Shameful. Disgraceful. Disgusting. Those are my reactions when reading about La'Tonya Ford's employment at Jackson National. Yes, many of her allegations involve incidents well over a decade old -- frankly, I don't care. It should not have taken this long for Ford's case to percolate through the judicial system, whether her allegations prove true or not. This is not justice. This is an ordeal. I commend my readers to the 10th Circuit's superb Opinion, which methodically address each and every argument and the components of proof attached, and does so with great patience and in a convincing manner.
Today's blog considers a Respondent who contested repayment of a promissory note to a former employer. When that contest went down in flames, the Respondent argued that his former arbitration lawyer was negligent in allegedly failing to tell him that the note-holder's lawyer said that the proposed defense against repayment of the note had a low rate of success. Okay, sure, you could argue that and the losing party did. Read today's blog to see how the legal malpractice claims fared.