Blockchain Firm Files Countersuit Alleging Toxic Lending Practices by Financer

The Nasdaq-listed blockchain company has initiated a countersuit against a financer over allegations of “toxic lending practices.” The legal action asserts that contractual modifications were made without proper discussion, rendering the contract unconscionable if those terms were enforced during a breach. This development has been supported by Michael B. Carlinsky, co-managing partner at Quinn Emanuel Urquhart & Sullivan, in a statement included in the counterclaim. For further details, the original discussion can be accessed here.