Italian Milan court to hold hearing on Binance class action case on Sept. 15

The Milan court in Italy will hold a hearing on Binance’s class action on September 15. A group of Italian and international investors filed a lawsuit against the encrypted trading platform Binance in November last year, claiming that the disconnection of the platform prevented users from changing their trading positions, resulting in data loss. tens of millions of losses, Binance is required to compensate for the loss. The suit also alleges that Binance violated Italian financial regulations by allowing Italian users to trade leveraged futures on the platform. Francesco Dagnino, managing partner of Lexia Avvocati, said at least 100 investors were involved in the case, and even those who accepted Binance’s proposal for compensation were not refunded. If no one from Binance shows up at the Milan court on Sept. 15, the judge will rule on the case in Binance’s absence and the company will lose the right to file a statement of defense.