SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Customers of Paxos Trust Co.

NEW YORK, Feb. 13, 2023 /PRNewswire/ -- Pomerantz LLP is investigating potential claims on behalf of customers of Paxos Trust Co. ("Paxos" or the "Company"). Such customers are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Paxos and certain of its officers and/or directors have engaged in unlawful business practices. 

On February 12, 2023, citing "people familiar with the matter," the Wall Street Journal published an article reporting that "[t]he Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws[.]" According to the article, "[t]he SEC's enforcement staff issued a letter to Paxos known as a Wells notice, which the agency uses to inform companies and individuals of a possible enforcement action" and that "[t]he notice alleges that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security."

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP