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RE: How hard was STEEM hit by Facebook & Google Crypto Ad Ban?
Its going to be tough to prove it was a result of the ad ban and not just market ups and downs
Its going to be tough to prove it was a result of the ad ban and not just market ups and downs
Its unlikely we'll even have to prove damages - 99% of class actions like this settle before the damages stage.
If we win the legal point that Facebook & Google breached Australian Competition Law, then they'll be facing the prospect of potentially huge damages that could bankrupt them and having to pay all our legal costs for arguing about damages for millions of people.
I didn't know it was in Australia I really should read things before commenting
Yes, we picked Australia because its a really good jurisdiction for global class actions.
That's a point that many crypto people make, but its actually not as difficult as you might think! Shareholder class actions regularly get damages related to how much the share went down even when that drop is much less than the drops that crypto suffered.
Look at this shareholder class action being run because of a 10% loss.
Yeah... true, but I joined anyway.