Crypto Investor Hits Fenwick & West With $2.6 Million Lawsuit

Fenwick & West was sued in an Oregon court Monday by investors in defunct cryptocurrency custodian Prime Trust for allegedly misleading them into investing.

Bend, Oregon-based investor Seven Peaks Ventures first bought into Prime Core Technologies, the parent company of Las Vegas-based subsidiary and crypto custodian Prime Trust, through its Venture Fund II vehicle in April 2021. The investor alleges that it wouldn’t have lost its equity in the crypto startup—or, perhaps even invested to begin with—if Fenwick hadn’t represented it.