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Two ICO Issuers Settle SEC Charges, Agree to Register Tokens as Securities (sec.gov)
2 points by troydavis 5 months ago | hide | past | web | favorite | 1 comment



> Both companies have agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the Commission, and pay penalties.

Paragon Coin: https://www.sec.gov/litigation/admin/2018/33-10574.pdf

CarrierEQ: https://www.sec.gov/litigation/admin/2018/33-10575.pdf

The refund clause:

> Respondent will … distribute by electronic means reasonably designed to notify each potential claimant (“Distribute”), a notice and a claim form (the “Claim Form”), both of which shall be in a form not objected to by Commission staff, informing all persons and entities that purchased AirTokens from Respondent before and including October 5, 2017 of their potential claims under Section 12(a) of the Securities Act, including the right to sue “to recover the consideration paid for such security with interest thereon, less the amount of any income received thereon, upon the tender of such security, or for damages if [the purchaser] no longer owns the security” and informing purchasers that they may submit a written claim on the Claim Form directly to Respondent




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