22 December 2021

Lawyers appeared in court on Friday (17 December) to defend the interests of Qoin against a class action brought by Gold Coast law firm Salerno Law. The suit alleges unconscionable conduct and misleading or deceptive conduct.

In court, the lawyers presenting the class action agreed that their lead applicant was not an appropriate choice and requested more time to put together the case (including redrafting their claim) which they had initially insisted on rushing ahead with.

Salerno Law was reprimanded in court by the lawyers for Qoin for spreading misinformation in media releases and on social media about Qoin in an attempt to drum up support for the class action. The judge directed that the firm be restrained from publishing any further adverse or misleading information to the community in the press or on social media. They cannot publish anything relating to the action without approval from the solicitors for Qoin.

Qoin governor Tony Wiese welcomed the move.

“This class action has clearly been brought about too hastily. In my opinion, there’s no basis for it and it’s absolutely contrary to the wishes of the wider Qoin community.

“From what they have been telling us, it’s been distressing for our members to be bombarded with what Salerno Law has been pedaling in what we think is an ill-considered attempt to bring Qoin down.

“It will not work, and we will continue to fight on behalf of everyone who believes in what we are building at Qoin as we go from strength to strength.”

Salerno Law has been given until January 28th, 2022 to provide a new statement of claim.

The next case hearing is scheduled for February 21st, 2022.

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