According to Odaily, crypto journalist Eleanor Terrett reported on the X platform that attorney John E. Deaton has filed a securities fraud class action lawsuit against Linqto founder and former CEO William Sarris on behalf of thousands of retail investors. The lawsuit alleges that Sarris received internal legal memos in 2023 and 2024, which clearly warned that his actions violated several SEC and FINRA regulations, including operating as an unregistered broker and running an unregistered investment company. Despite these warnings, Sarris allegedly chose to ignore them. Deaton emphasized that this lawsuit targets Sarris personally and is not restricted by bankruptcy protection.

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