FactSet Takes Blockchain Terminal Affiliate to Court

FactSet Takes Blockchain Terminal Affiliate to Court
ICO News

According to documents published by the Supreme Court for the New York State, a financial research company based in the United States, FactSet has taken legal action against a company associated with professional trading service Blockchain Terminal (BCT).

As per the lawsuit, FactSet and the defendant, CG Blockchain, had entered an agreement to create an interfacing application between the two companies’ products. FactSet had also granted a license to CG for using its products.
CG had agreed to pay a minimum licensing fee of about $3.8 million in three increments, according to the documents.

However, FactSet claims that the amount was not paid. The company insists that the contract has been violated. The plaintiff states that CG kept taking advantage of the license provided. FactSet filed a second part of the complaint, which covers CG’s “unjust enrichment.”

As per FactSet claims CG owes the company $2.8 million along with interest and attorney’s fees. Further, In October, Clarity LLC, a staffing company based in New York, filed documents in the same court, suing CG’s managing director, Edith Pardo, for about $150,000. The plaintiff highlights CG’s failure to pay for recruiting services.

In December, a crypto news outlet called The Block published an investigation, claiming that the person responsible for BCT, allegedly named Shaun MacDonald, reportedly a convicted fraudster, whose real name is Boaz Manor.

As per news outlet in Toronto, The Star, in 2012 manor was sentenced for four years in prison in Canada for misappropriating $106 million from the Toronto-based hedge fund he co-founded. Whereas, the Globe and Mail reported that Manor agreed to repay almost $8.8 million as compensation and acceded to a lifetime ban from the securities industry.

In December, MacDonald revealed in an interview that his real name is Boaz Manor. The interview was posted on BCT’s official twitter account.

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