NEW YORK, March 3, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues its investigation into potential securities claims on behalf of buyers of BUSD arising from allegations that Paxos Trust Co. violated federal securities laws.

SO WHAT: If you have purchased BUSD, you may be entitled to compensation without paying out-of-pocket expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.

WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=12262 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email pkim@rosenlegal.com or cases@rosenlegal.com for information about the Class Action.

WHAT IS THIS ABOUT: On February 12, 2023, The Wall Street Journal published an article titled “Crypto Firm Paxos Faces SEC Lawsuit Over Binance USD Token” stating: “[t]According to people familiar with the matter, the Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws[.]” Next, according to the article, “[t]SEC enforcement personnel issued Paxos a letter known as the Wells Notice, which the agency uses to notify companies and individuals of potential enforcement action,” stating that “[t]The notice claims that Binance USD, a digital asset that Paxos issues and lists, is an unregistered security.

WHY ROSES LAW: We encourage investors to select qualified advisors with a track record in leadership positions. Frequently, companies that issue notices do not have comparable experience, resources, or meaningful recognition from peers. Many of these firms do not conduct securities class action lawsuits. Be wise in choosing a lawyer. The Rosen law firm represents investors worldwide and focuses its practice on securities class actions and shareholder derivatives litigation. Rosen law firm has…