BlockBeats News, April 8th, according to Bloomberg, Ledger SAS must face US consumer charges alleging that it misleadingly advertised the security of its cryptocurrency hardware "wallet" devices, a US federal court has ruled.
US Northern District of Illinois Court Judge LaShonda A. Hunt stated that while the sales contract for the Nano S and Nano X hardware devices mentions the application of French law, this mention is not exclusive, and the consumer charges do not depend on the contract's application or interpretation, so the contract cannot restrict the consumer's venue for prosecution.
"SAS" is a commonly used company type in France, a company structure similar to the US "Limited Liability Company" (LLC), providing a flexible management structure and shareholder liability protection, typically used for small and medium-sized enterprises or startups.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.