FinTech news in lawsuit category

Delphia, a mobile investment platform, is facing a lawsuit and allegations that its co-founder and CTO Cameron Agius-Westland sexually assaulted and harassed a former employee, according to a complaint filed on Monday and shared exclusively with journalist. Andrew Peek, CEO and co-founder of Delphia, shared a statement with journalist in response to the lawsuit allegations: Delphia takes the allegations of sexual misconduct against Mr. Westland very seriously. The following day, Westland is said in the complaint to have at least partly acknowledged his behavior by sending the Plaintiff and two other colleagues the following message, as shared in a screenshot in the document: In December 2022, Delphia announced its acquisition of Fathom Privacy, a data rights company that aims to provide individuals the ability to own personal application data.

According to a press release from New York Attorney General Letitia James, Nexo and Nexo Capital failed to register with the state securities and commodities brokers or dealers and lied to investors about their registration status. Crypto platform Nexo is being sued by eight U.S. state securities regulators representing New York, California, Kentucky, Maryland, Oklahoma, South Carolina, Washington and Vermont. Separately, California’s Department of Financial Protection and Innovation issued a cease-and-desist order against Nexo’s crypto-interest-bearing accounts, according to a document released by the state. Nexo isn’t the first crypto company to land in hot water with U.S regulators over interest-bearing accounts, which have been viewed as securities in select cases in the past.