An investor class that alleged that CEO Changpeng Zhao and the crypto platform Binance.com sold them unregistered securities argued on Monday that the defendants failed to cite the legal authority that allowed a nonsignatory to a contract to enforce an arbitration clause.
The filing penned by co-lead class counsel Adam Moskowitz, the managing partner at the Moskowitz Law Firm, who is joined by his law firm partner Joseph Kaye, and litigators from Boies Schiller Flexner and Mark Migdal Hayden, argued that the push by the defendants followed a revelation that a second amended complaint took away their basis to dismiss and compel arbitration.