Linqto's Former CEO Faces Class Action Lawsuit, Accused of Securities Fraud

Crypto reporter Eleanor Terrett posted on the X platform that attorney John E Deaton, representing thousands of retail investors, has filed a securities fraud class action lawsuit against Linqto founder and former CEO William Sarris.
According to the complaint, Sarris received internal legal memos from the company in 2023 and 2024 that clearly warned that these issuances violated multiple SEC and FINRA regulations, including acting as an unregistered broker-dealer and operating an unregistered investment company, but he chose to ignore them. Deaton stated that this lawsuit is against Sarris personally and is not subject to bankruptcy protection. [Odaily Planet Daily]