On December 13, 2021, Lieff Cabraser, with co-counsel, filed a lawsuit against Uphold in the Southern District of New York on behalf of a class of consumers alleging that the digital currency money platform’s “Earn” program was a worthless product or, at a minimum, one with serious undisclosed material risks that Uphold failed to disclose to its customers despite having a legal obligation to do so.
The Complaint alleges that, starting in 2019, Uphold deceptively promoted a product called “Uphold Earn” (which Uphold also referred to as “Earn” or “Cred Earn”). Consumer investments in “Earn” became worthless in November 2020, when the company behind “Earn” went bankrupt following egregious mismanagement. Rather than disclose the risks to consumers, Uphold hid the information and continued to benefit unjustly and improperly from its “Earn” product.
The lawsuit brings claims under the New York General Business Law, which was enacted to protect consumers, as well the common law of fraud, and unjust enrichment.
Learn more about the “Uphold Earn” Consumer Fraud Class Action Lawsuit.
Contact a Consumer Fraud Lawyer at Lieff Cabraser
If you are or were a customer of Uphold and lost money in the Uphold Earn product, please contact a consumer advocate at Lieff Cabraser today for a free, no-obligation review of your case. The information you provide will help us hold Uphold accountable for its fraud, deception, and unjust and improper profits relating to the Earn product.