Multi-billion dollar financial-data firm Factset is suing CG Blockchain, an affiliated company of Blockchain Terminal (BCT Inc), for breach of contract, according to New York court filings from January 3.
The lawsuit follows The Block’s recent investigation of BCT Inc., which shares its management with CG Blockchain. The report revealed how the firm was secretly run by Boaz Manor, who in 2012 was sentenced to prison for his role in an $800 million hedge fund that came under investigation by Canadian authorities. The report also shared accounts of former employees who questioned whether the company’s Bloomberg-esque trading terminal for crypto was legitimate. Manor has since said it is a functional product. The FBI is also investigating the company, sources have told The Block.
According to the allegations in the lawsuit, Factset announced a partnership with CG Blockchain in February last year offering its clients access to their crypto products. Now, it seems that Factset is suing CG Blockchain for ‘failure to pay under a licensing agreement,’ assuming the product has not been delivered. Factset has removed its February press release from its website.
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Wall Street data giant Factset is suing an affiliate company of Blockchain Terminal written by Isabel Woodford @ https://www.theblockcrypto.com/2019/01/08/wall-street-data-giant-factset-is-suing-an-affiliate-company-of-blockchain-terminal/ January 8, 2019 Isabel Woodford