* Bitfinex and Tether’s liability to the putative class allegedly surpasses $1.4 trillion U.S. dollars
$1.4 trillion? That's completely insane. The RICO charge adds triple damages, so that's the brunt of it. Let's see if the courts actually allow it to move forward as a RICO case:
Quote
Unfortunately for plaintiffs, there are onerous requirements for the complaint to show that there is enough evidence to allow the lawsuit to move forward as a RICO case. Judges take a dim view of efforts to turn what look like ordinary state law claims into federal cases by claiming a RICO violation. For that reason, RICO cases often don’t survive the pleading stage.
[...]
RICO lawsuits are tempting. They allow a plaintiff to sue a variety of defendants by claiming that they acted together and seek an award of triple damages, a bonanza in some business disputes that can run into millions of dollars. But these cases should also come with a bright red warning sign: Tread lightly or see your case thrown out of court before it even gets started.
Source: https://www.nytimes.com/2018/01/16/business/dealbook/harvey-weinstein-rico.html
[...]
RICO lawsuits are tempting. They allow a plaintiff to sue a variety of defendants by claiming that they acted together and seek an award of triple damages, a bonanza in some business disputes that can run into millions of dollars. But these cases should also come with a bright red warning sign: Tread lightly or see your case thrown out of court before it even gets started.
Source: https://www.nytimes.com/2018/01/16/business/dealbook/harvey-weinstein-rico.html
