Posted by Earlier this week, T.I. scored a legal victory when U.S. appellate court dismissed a lawsuit against him for exceeding the statute of limitations period regarding Tip’s ownership of the cryptocurrency FLiK in 2017. Throughout the decision’s filing, Judge William Pryor of the 11th Circuit Court of Appeals showed off his Hip Hop knowledge by making several references to T.I.’s decorated discography.
“The district court said, in effect, ‘Live Your Life,’ and granted motion,” Judge Pryor said in reference to T.I. and Rihanna’s 2008 No. 1 smash hit.
In the filing, Pyror then went on to shrewdly include the Atlanta native’s seventh studio album title, writing, “In other words, statutes of repose show No Mercy to plaintiffs.”
T.I. was accused of selling unregistered FLiK tokens along with his business partner Ryan Felton. Investor Kenneth Fedance purchased $3,000 worth of FLiK and sued the pair in 2019, accusing them of three securities violations in the U.S. Northern District Court of Georgia.
Judge Pryor went to reference “You Know What It Is” and “Whatever You Like” with his conclusion when throwing out the case.
“Anyone in Fedance’s position could say ‘You Know What It Is,’” he wrote. “In conclusory fashion, Fedance alleges that neither he nor putative class members could bring claims for the sale of unregistered securities within the one-year limitations period because Felton and Harris fraudulently concealed the facts necessary to reach the legal conclusion that FLiK Tokens were securities. But you cannot make fraudulent concealment mean ‘Whatever You Like.’”
T.I. Pulls Off Incontrovertible Verdict In Cryptocurrency Court
In September 2020, T.I. was ordered to pay $75,000 for cryptocurrency fraud and banned from being involved with digital-asset securities for five years.