District Court Denies FTC Preliminary Injunction Effort: Butterfly Labs Reopens

LEAWOOD, Kan., Dec. 15, 2014 /PRNewswire/ -- On December 12^th, 2014, the United States District Court for the Western District of Missouri denied the FTC's request for a preliminary injunction, asset freeze and continuing appointment of a receiver. The Court lifted similar temporary restrictions which had been in place for the past three months.

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We look forward to getting back to serving our customers, as we were before the FTC's unwarranted interruption. We are gratified by the opportunity to be heard and the Court's decision to allow us to return to work without the burdensome expense and operational handicap of a receivership.

We respect the FTC's role in protecting consumers from actual scams based on adequate investigation. But the FTC's very public labeling of Butterfly Labs as bogus and scammers has caused irreparable harm to our business; our customers, employees, business partners and shareholders have all suffered as a result of these actions.

Butterfly Labs thanks the many customers, employees, and business partners who have supported us during this challenging time.

For inquiries, please contact Jeff Ownby

Email

(913) 271-6744

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SOURCE Butterfly Labs