'Black Thursday' losses spur $28 million class-action lawsuit against Maker Foundation

Quick Take

  • A proposed class-action lawsuit will be filed Tuesday against the Maker Foundation and several of its affiliates, The Block has learned
  • The complaint accuses the Foundation of misrepresenting the protocol’s risks to investors, which led to some investors losing all of their collateral during the Black Thursday market sell-off
  • The plaintiff is seeking roughly $28.3 mil