Keller Postman UK (“KP”) is one of the leading class action law firms in the UK. With a dedicated division specialised in investment fraud and investment mis-selling including cryptocurrency investments, KP has represented claimants in cases against some of the largest companies in the world including Binance, Volkswagen, Mercedes, Tesco and EasyJet. A unique keystone of KP’s strategy is to take on cases on a contingent basis, thereby aligning our interest and ensuring that we only represent clients in cases that we genuinely expect to succeed.
In 2018, Nexo Financial Services Ltd (“Nexo”) advertised a “1-to-1 conversion guarantee to U.S. Dollars on any stablecoin”. In early 2022, Nexo advertised the launch of TerraUSD (“UST”) on the platform as a stablecoin, offering enticing interest rates to potential investors as high as 20% for UST. Following the de-peg of UST between 7 to 11 May 2022, the value of UST plummeted, with investors making significant losses on their investments.
KP is therefore launching a class action lawsuit on behalf of investors against Nexo, in relation to representations made by Nexo to investors of UST before the de-peg on 7 May 2022.