Cress
Cress v. Nexo Financial LLC
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA 10 JOHN CRESS, Case No. 23-cv-00882-TSH
Plaintiff,
ORDER GRANTING IN PART AND
v. DENYING IN PART MOTION TO
DISMISS FIRST AMENDED
NEXO FINANCIAL LLC, et al., COMPLAINT Defendants. Re: Dkt. No.
16 I. INTRODUCTION Plaintiff John Cress brings this case against Defendants Nexo Financial LLC, Nexo Financial Services Ltd., Nexo AG, and Nexo Capital, Inc. (collectively “Nexo”) and Antoni Trenchev, Nexo’s CEO (together with Nexo, “Defendants”), alleging Nexo fraudulently induced him to take out loans collateralized by millions of dollars in digital assets, which were ultimately sold by Nexo. Pending before the Court is Defendants’ Motion to Dismiss Cress’s First Amended Complaint pursuant to Federal Rule of Civil Procedure 12(b)(2) and Rule12(b)(6). ECF No. 32. Cress filed an Opposition (ECF No. 33) and Defendants filed a Reply (ECF No. 34). For the reasons stated…