Disagreements at Concensum

Concensum, formerly Copytrack, has apparently made inaccurate statements in its white paper and may have deceived investors. CLLB attorneys represents damaged investors

Munich, Berlin 27.07.2018: Another planned success story on the crypto market does not seem to meet investors' expectations. Concensum, formerly Copytrack, is a company that prosecutes copyright infringements on images on the Internet.

Concensum's goal is to create a global, decentralized copyright register for digital content that authenticates users and links digital intellectual property, creating a unique ecosystem for rights owners and thereby supporting a new, efficient marketplace. A core function of the register is the reliable proof of authorship of photos.

In order to raise the necessary capital, Concensum PTE Ltd, formerly Copytrack PTE. Ltd., based in Singapore, conducted an ICO (Initial Coin Offering) from 10 December 2017 to 9 February 2018 and offered the company's own CPY token to interested investors. A so-called "pre-sale" started on 10 December 2017 and the main public phase began on 10 January 2018.

The CPY token was advertised with a whitepaper describing the business model and the economic and financial framework of the ICO.

There have recently been doubts about the economic and financial framework conditions.

For example, the whitepaper presents a company history that is said to have started as early as 2015 and represents the company's most important successes. According to some investors who have in the meantime contacted the law firm CLLB, this is probably absolutely incorrect, since Concensum PTE Ldt., i.e. the company that issued the ICO, was only founded in October 2017.

Concensum's white paper also appears to list employees who were not working for the company or who were no longer working for the company at the time of the ICO.

According to various investors, it is even unclear whether Concensum PTE Ltd. had any other employees besides the managing director at the time of the ICO.

Against this background, ICO participants now doubt that Concensum actually has the business operations described in the whitepaper and can achieve the goals set out in the whitepaper.

In the whitepaper, the roadmap provides for the establishment of a foundation for the global copyright register, among other things. The capital generated by the ICO should be used as foundation capital for the establishment and thus secure the existence of the global copyright register for a specific purpose and independently.

However, Concensum is no longer talking about a foundation.

The token swap (exchange) of CPY tokens on the Etherium blockchain to CPY tokens on an in-house blockchain announced in the whitepaper is also a long time coming.

This swap was announced for the second quarter of 2018, but is now at the end of July 2018 and there is no information on a date for the conversion of the swap.

These inconsistencies are also reflected in the price development of the CPY token. The CPY token is currently a long way from the issue price of $ 1.14.

The current price is approx. $ 0.08. It is currently impossible to predict where Concensum and the CPY token will go and whether the price will ever recover.

Investors concerned should have their legal claims examined by a specialist lawyer for capital market law.

The Kanzlei CLLB supports concerned investors with the enforcement of their demands.

CLLB Rechtsanwälte stands for outstanding expertise in the field of civil procedure law. The development and successful implementation of a target-oriented process strategy is a decisive factor not only in large-scale proceedings with several hundred injured investors. Even complex individual proceedings, especially those with an international dimension, can only be optimally managed through the use of specific experience and detailed specialist and legal knowledge. Our lawyers are therefore very familiar with the functioning of financial products of regulated and unregulated markets, are proven specialists in capital market law and have many years of relevant judicial experience, i. e. in some cases more than ten years, before courts throughout Germany. The Kanzlei CLLB of attorneys was created in the year 2004 in Munich and could establish itself by numerous successes in sensational procedures already after short time. In addition to the four founding partners István Cocron, Steffen Liebl, Dr. Henning Leitz and Franz Braun, whose initials stand for the "CLLB" brand, Alexander Kainz (2008) and Thomas Sittner (2017) are two other partners responsible for the client's success. Meanwhile twelve lawyers of CLLB represent the legal interests of their clients. They are mainly active on the plaintiff's side and assert claims for damages on their behalf. In a nutshell, that means: We can sue.

CLLB Attorneys at Law, Cocron, Liebl, Leitz, Braun, Kainz, Sittner Partnership mbB, Attorney Steffen Hartmann, Panoramastr.1. 47, 10178 Berlin, Phone: 030 / 288 789 60, Fax: 030 / 288 789 620; Mail: kanzlei@cllb.de, Web: www.cllb.de

This release was published on openPR.