OPSkins Group and Worldwide Asset eXchange (WAX) has reportedly requested the court to dismiss the charges against it by the Crypto Asset Fund. The company sent a letter to the California District Court, claiming that the accusations are “referable to arbitration.” Moreover, the plea is sent out just before a few days of the hearing, which is scheduled to take place on November 18.
The video game virtual goods firm is accused of carrying out a fraudulent ICO and violating the Securities Act. Also, Crypto Asset Fund, the plaintiff, is one of the investors who has imposed the allegations. According to the plaintiff, it invested $1.2 million in the tokens issued in 2017, but the firm did not register them with the Securities and Exchange Commission. Besides this, the OPSkins group issued 1.85 billion tokens rather than 185 million and lingered the delivery to pump the demand in the market.
In the letter sent to the California District Court, the firm writes, “The Opposition filed by Plaintiffs Crypto Asset Fund, LLC, and Digital Capital Management, LLC, does not make any new arguments or allege any new facts. Specifically, the Opposition does not counter that OPSkins Group is a Canadian entity with operations solely in Canada, thereby providing a basis for application of the International Convention on the Recognition and Enforcement of Arbitral Awards, in addition to the bases set forth in the Motion of Defendant Exposition Park Holdings SEZC and EPH’s Reply in support thereof.”