Was Giovanni Perone the Kingpin of the Emax scandal?

Davis alleges that Giovanni Perone, one of Emax’s cofounders and a defendant in the class action lawsuit, was the one doing the pumping and dumping: “Gio was the kingpin of the whole Emax scandal, 100%.” In a series of text messages with Forbes Maher also blamed “Perone and his crew.”

Did Perone sell Emax tokens 'to unsuspecting investors' for'substantial profits'?

Perone, like Davis and Maher, offloaded Emax tokens “onto unsuspecting investors” for “substantial profits” during the token’s fist six weeks, according to allegations in the lawsuit. Perone and his lawyers did not respond to repeated requests for comment. Not everyone is mad at Davis and Maher. Some Emax investors sold early and scored profits.

Why are Gentile and Perone suing ethereummax?

Gentile and Perone "marketed the EMAX tokens to investors so that they could sell their portion of the float for a profit," the lawsuit states. EthereumMax denied the allegations in a statement to CBS MoneyWatch.

Who are the creators of Emax?

The digital coin's creators — Steve Gentile of Connecticut and Giovanni Perone of Florida — then sold their holdings of EthereumMax "for substantial profits," according to the suit. Gentile and Perone "marketed the EMAX tokens to investors so that they could sell their portion of the float for a profit," the lawsuit states.