On April 8, according to Bloomberg, Ledger SAS must respond to consumer allegations in the United States, claiming that it misleadingly advertised the security of its cryptocurrency password 'wallet' devices, as ruled by a federal court in the United States.
Judge LaShonda A. Hunt of the Northern District of Illinois, USA, stated that although the sales contracts for the Nano S and Nano X hardware devices mention the application of French law, such mention is not exclusive, and the consumers' claims do not depend on the application or interpretation of the contract, thus the contract cannot limit the location of consumer lawsuits.
‘SAS’ is one of the most commonly used types of companies in France. This company structure is similar to the 'Limited Liability Company' (LLC) in the United States, providing flexible management structure and shareholder liability protection, typically used for small and medium-sized enterprises or startups.
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