Online Currency Transfer Never Happened When Promised...

[ryanbru]

What is the name of your state (only U.S. law)? California

Hello,

I invested a little money for some online currency and a somewhat well known company sent me an email confirming that a wire transferred was documented for that particular day in March, but roughly speaking the funds "may take a week or two to transfer". The money never went through and after about 30-40 emails the customer service continues to ignore my question and gives strange answers avoiding it. The price of the online currency went from about $19 a share to about $220 a share. Any advice? It's a strange situation because they said they would take my money for the investment digitally but never did and I have documentation saying all was set. I have missed out on the investment opportunity because of them. Anything possible in this situation? Is this a small claims court issue? It would probably be under $2K Thanks!

 

[Taxing Matters]

What is the name of your state (only U.S. law)? California

Anything possible in this situation? Is this a small claims court issue? It would probably be under $2K Thanks!

It matters first of all where this company is organized and whether it has any activity (other than its online contact with you) in California. If the company is not located in California and has no significant activity there then it cannot be sued in California. Second, the details of the firm’s contract with you matter a great deal, and of course I have not read that contract. What exactly did the firm promise in the contract? Does the contract require arbitration instead of going to court? Does the contract have any provisions that limit liability? If you can go to court, does the contract specify where the case must be litigated and/or what jurisdiction’s rules apply? You need to read that contract carefully to sort out where you stand on this.

 

[ryanbru]

It matters first of all where this company is organized and whether it has any activity (other than its online contact with you) in California. If the company is not located in California and has no significant activity there then it cannot be sued in California. Second, the details of the firm’s contract with you matter a great deal, and of course I have not read that contract. What exactly did the firm promise in the contract? Does the contract require arbitration instead of going to court? Does the contract have any provisions that limit liability? If you can go to court, does the contract specify where the case must be litigated and/or what jurisdiction’s rules apply? You need to read that contract carefully to sort out where you stand on this.

You are awesome. That makes total sense. I appreciate your thorough answer.

I'm looking things over and already found something. I may be able to get the initial intended part back. Anyway, thanks for your help!

YOUR DAMAGES ARE LIMITED TO NO MORE THAN THE VALUE OF THE SUPPORTED DIGITAL CURRENCY AT ISSUE IN THE TRANSACTION, AND THAT YOU MAY NOT RECOVER FOR LOST PROFITS,