Token Class Action
Token Fraud is a division of Lexia Avvocati aimed to assist Italian investors to promote class actions and individual actions against fraudulent or illegal token offers (ICO, STO, IEO, etc.).
Class Action ICO Friendz
Open Class Action

Some Italian investors required legal assistance to Lexia Avvocati to file an action for damages in relation to the ICO (Initial Coin Offering) made by the Italian company Friendz S.r.l. and the Swiss company Friendz S.A. during the 2018, through which the companies have collected more than € 24 million.

Lexia Avvocati has been engaged by a group of Italian investors to take a legal action for damages in relation to the alleged unlawful public offer of “financial products” under Italian laws, the “financial products” were tokens called “Friendz Coin” (FDZ). The Italian company Friendz S.r.l. and the Swiss company Friendz S.A. have jointly created and promoted the ICO and the Token FDZ. Friendz Coin public offer last from 1 March 2018 to 21 March 2018.

At a glance
  • Founder of the ICO: Friendz S.r.l. and Friendz S.A.
  • Token name: FDZ
  • Token sale date: 1 March– 21 March 2018
  • Investment collected: more than 24 million of Euro
  • Price value loss: more than 94%
  • The issuer did not fulfill the obliegations set out on the White Paper
  • Lack of information given to investors after the ICO