Home Blockchain Blockchain Developer Humbl Faces Lawsuit Over ‘Smokescreen’ Deals

Blockchain Developer Humbl Faces Lawsuit Over ‘Smokescreen’ Deals

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Blockchain Developer Humbl Faces Lawsuit Over ‘Smokescreen’ Deals

August 17, 2022, 4:24 p.m.

Humbl, a blockchain technology developer, is facing a derivative shareholder lawsuit over allegedly misleading statements regarding its products and financial success in foreign countries.

The San Diego-based company’s executives and board members breached their fiduciary duties by posting false claims about its products’ abilities to pay, tip, review and rate merchants on its app, according to the lawsuit filed Tuesday in the Delaware Court of Chancery.

But a report from Hindenburg Research demonstrated that the app’s functionality — supposedly for trading digital currency and other blockchain-based stuff — didn’t work, the lawsuit, filed by investor James, said. Angrisano. App reviews on Apple…

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