Cleary Gottlieb Team Named Litigator of the Week Finalists for Representing GMO-Z.com Trust Co.

Cleary Gottlieb partners Heather Nyong’o, Nowell Bamberger, and Samuel Levander led a team that was selected as “Litigator of the Week” finalists by The American Lawyer’s Litigation Daily.

The team was recognized for representing digital asset company GMO-Z.com Trust Co. in a class action brought on behalf of investors in its GYEN stablecoin based on the value of Japanese yen. The plaintiffs claim they were injured when the value of GYEN became displaced from the yen after it was listed on Binance and Coinbase. The court dismissed the plaintiffs’ Securities Act claims, finding GYEN was not offered and sold as a security—a “first-of-its-kind decision” in a case involving a stablecoin.

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