Advanced Mining Technology: Bitcoin Miner Manufacturer Litigation

 AMT customers seek damages in a lawsuit filed in Federal Court in Philadelphia against AMT for its failure to deliver purchased bitcoin miners and failure to issue refunds causing the customers millions in damages.

Chimicles & Tikellis LLP has initiated a nationwide class action lawsuit on behalf of customers of Advanced Mining Technology, Inc. (a/k/a Advanced Mining Technologies, Inc.)(“AMT”).  Named as defendants in the lawsuit are AMT and two of its founders, owners and/or employees, Joshua Zipkin and Jim Brown.  The case is captioned: Craig Lenell et al. v. Advanced Mining Technology Inc. (a/k/a Advanced Mining Technologies Inc.) et al., Case No. 2:14-cv-01924 (U.S.D.C. ED. PA). AMT, which is located in Haverford, PA, holds itself out as a manufacturer of specialized technology equipment used to mine bitcoins, a type of cryptocurreny, or virtual currency.  AMT purports to manufacture and sell a line of high-speed bitcoin miners that range in price from approximately $1,500 to $15,000.  The “mining” of bitcoins is an increasingly competitive and time-sensitive process by which computer hardware is used to obtain bitcoins by solving complex mathematical algorithms.  The Complaint alleges that because these algorithms become progressively more difficult over time. In their Complaint, Plaintiffs Jared Pela, Craig Lenell and Thomas Urbanek allege they and hundreds of other AMT customers ordered and paid for bitcoin miners which they never received from AMT.  After weeks and months of undue delay, Plaintiffs unsuccessfully attempted to cancel their orders and get refunds.  As a result, Plaintiffs allege economic damages including, but not limited to, loss of the purchase price and the lost opportunity to mine bitcoins. According to the Complaint, AMT’s alleged conduct amounted to unfair, deceptive and fraudulent business practices, a breach of contract, a breach of express warranty, common law fraud, negligent misrepresentation, breach of the duty of good faith and fair dealing, unjust enrichment, and violations of various state consumer protection laws.  The Complaint alleges that by concealing material facts and making false and misleading statements, AMT was able to wrongfully acquire millions of dollars from customers since mid-2013.

If you are interested in discussing your rights as an AMT customer and/or have information relating to the matter, please contact Chimicles & Tikellis by clicking the “Email us about this Case” form, below.

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