– A US federal appeals court reopened a lawsuit where investors allege that Binance violated US securities laws.- According to the appeals court, investors could pursue claims on their purchases from the year before the lawsuit.- The lawsuit mentions ELF, EOS, FUN, ICX, OMG, QSP and TRX, these tokens lost much of their value since 2017.Binance had won the lawsuit brought against it by investors of seven tokens on the exchange’s platform, back in 2022.A court in Manhattan has revived the lawsuit and Binance is likely to face litigation on the violation of US securities laws.
Also read: [BNB price rises 10% despite Binance Exchange’s international regulatory troubles](https://www.fxstreet.com/cryptocurrencies/news/bnb-price-rises-10-despite-binance-exchanges-international-regulatory-troubles-202403070200) Binance could face a lawsuit over investors’ crypto losses [Binance](https://www.fxstreet.com/cryptocurrencies/news/bnb-price-forecast-outlook-remains-bullish-despite-nigerian-government-case-against-binance-202403012100) recently settled charges against the exchange with the US Department of Justice for a fine of approximately $4.3 billion.
The exchange is likely in legal trouble again with investors as the 2nd US Circuit Court of Appeals revives a lawsuit against the exchange platform.Investors of seven tokens – aelf (ELF), EOS, FunToken (FUN), ICON (ICX), OMG Network (OMG), QSP, and TRON (TRX), have filed a lawsuit against the exchange, accusing it of securities laws violation.Binance faces new lawsuit.Source: CourtListener Most of these tokens have lost much of their value since 2017.The appeals court says that investors can claim damages from purchases made within the year before they filed the lawsuit against Binance.The decision was made by Manhattan court on Friday, reversing a March 2022 ruling by US District Judge Andrew Carter.
The investors allege that Binance failed to warn them of the “significant risk” in this investment and sought to recover their capital.This lawsuit is different from Binance’s recent $4.3 billion penalty, imposed for the violation of federal anti-money laundering and sanctions laws.
Founder Changpeng Zhao is scheduled for sentencing on April 30.[BNB](https://www.fxstreet.com/cryptocurrencies/news/bnb-price-rises-10-despite-binance-exchanges-international-regulatory-troubles-202403070200) price hit a high of $492.30 after two years, post January 2022.
The native token’s price is undeterred by the legal battle faced by exchange and its executives.Information on these pages contains forward-looking statements that involve risks and uncertainties.Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.You should do your own thorough research before making any investment decisions.FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
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FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use.Errors and omissions excepted.The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.[Join Telegram](https://t.me/fxstreetcrypto) Recommended Content Editors’ Picks [Ethereum restaking sees major boost ahead of Dencun Hard Fork, EigenLayer TVL surpasses $11 billion](https://www.fxstreet.com/cryptocurrencies/news/ethereum-restaking-sees-major-boost-ahead-of-dencun-hard-fork-eigenlayer-tvl-surpasses-11-billion-202403081323) [](https://www.fxstreet.com/cryptocurrencies/news/ethereum-restaking-sees-major-boost-ahead-of-dencun-hard-fork-eigenlayer-tvl-surpasses-11-billion-202403081323) Ethereum restaking protocol EigenLayer total value of locked assets climbs to $11.71 billion.Ethereum Dencun Hard Fork, scheduled for March 13, has likely catalyzed the growth of restaking on EigenLayer.
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