Class Action Lawsuit Filed Against Crowdfunding Campaign by Coin, Inc..

Kronenberger Rosenfeld, LLP, a San Francisco-based law firm, filed a class action lawsuit alleging that Coin, Inc. (“Coin”) received millions of dollars from consumers through a crowdfunding campaign for a product the company knew could never work as advertised. The lawsuit demands a trial by jury and seeks monetary damages against Coin for false advertising, misrepresentation and breach of contract.

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“Our complaint alleges that Coin knowingly marketed a product that it knew could not work the way they said it would,” said lead attorney Karl Kronenberger. “The complaint further alleges that Coin knew the statements in its crowdfunding video were false, but proceeded to line their pockets anyway, leaving consumers stuck with a device that does not work the way Coin promised.”

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Recently credit card terminals moved to “chip” where the card may have a chip-in-card and that seemed to have cause some problems generally speaking for merchants and customers with any credit card, the payment space is still messy, Coin was/is an interesting attempt. Ours worked most of the time, but we’re back to Apple Pay when it’s available.