Law office undermines class activity suit against deplorable $PSYOP memecoin
The project raised $7 million but has not yet distributed 90% of allocated funds.
Law firm threatens class action suit
Mike Kanovitz, a partner at Loevy & Loevy, posted a letter on Twitter that reads:
“A refund is the stand-up thing to do. You’ve made promises and failed to live up to them. Anyone … knows that if you f— up on delivering what you promised, the customer gets a refund.”
As a matter of fact, Kanovitz stated that $PSYOP maker Ben_eth didn’t incidentally “f — up” yet intentionally deluded symbolic purchasers, broke guarantees, and misstructured liquidity pools. Most importantly, he claimed that tokens were distributed in a “trickle” by the project, which is supported by tweets admitting that 90% of the $PSYOP allocation has not yet been distributed.
Ben_eth may have been involved in wire fraud, according to the attorney, which is a precursor to racketeering. He added that this could drive Ben_eth to pay $21 million in penalties disregarding the way that the $PSYOP deal just raised $7 million.
According to Kanovitz, Loevy & Loevy will file a class action lawsuit in Arizona if Ben.eth does not issue refunds to investors. He stated that Ben_eth’s communications would be subject to a subpoena, and that the process would reveal Ben_eth’s and his collaborators’ names.
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$PSYOP defenders ridicule legal threat
Due to its casual tone, typos, and lack of approval from Kanovitz’s legal partner Jon Loevy, the letter immediately drew criticism.
Ben_eth has rejected the threat of legal action, describing the letter as “so unprofessional it could get [the firm] in trouble with the bar association.” He likewise mocked Kanovitz for sending the letter as a non-fungible token on the Ethereum blockchain.
The legal foundation of the proposed lawsuit is not clear.
Nevertheless, despite having raised $7 million, $PSYOP lacks substance or integrity. The undertaking was condemned by a media studio with a similar name on May 19, and a trickster has attempted to mirror the symbolic send off in a phishing plan.
