Magnus Daar Esq. of Nova, a law firm based in Sweden, feels that KNC’s actions might hurt Sweden’s reputation for other companies who started their business in Sweden. Sweden has been the birthplace of many popular companies, services, and products such as Skype, Spotify, and Minecraft. KNC’s business methods of illegally denying refunds to Titan customers, and falsely portraying the KNC Titan in a way that makes it seem profitable, are downright dirty as they are illegal. KNC’s negative actions are the exception when it comes to Swedish companies, rather than the rule.
To quell the illegal actions of KNC and help KNC Titan customers find restitution, Magnus Daar has opened a Group Lawsuit against KNC. He seeks to find new participants to join the case that he believes has considerable strength. Many KNC customers took out loans to pay for their KNC Titan orders after reading the marketing propaganda that KNC produced. KNC shipped profitable Jupiter mining equipment, and people thought that KNC would keep on producing profitable mining equipment. Instead, they decided to build massive data centers and ship used data center equipment as “Super Jupiters.”
Today is October 17th, 17 days after the end of quarter 3 and KNC has yet to ship many customers their unprofitable Titan orders. KNC had promised to ship Titan units during the quarter two or quarter three time-frame. Customers have long since sought refunds for their Titan orders, but instead of KNC following Swedish law and obliging the request, KNC replies with messages similar to the one below.
Please review our terms and conditions which can be found here: https://www.kncminer.com/pages/tandc
Due to the relatively young nature of the scrypt mining market we are not currently offering refunds on our scrypt mining products.
Litecoin introduced scrypt mining to the world on October 7th, 2011, almost three years ago, and roughly two years after the creation of Bitcoin in 2009. The Bitcoin gold rush predominantly started at the end of 2013, when companies started to ship ASIC devices for mining. The Scrypt mining market is far from “young” given the aforementioned, and even if you could say that the market is young, the law is still the law and it must be followed.
KNC’s negative response to their customers is something rarely seen in Swedish companies, but, unfortunately, many customers have lost thousands of dollars by shopping with KNC. The group lawsuit started by Magnus Daar is critical to removing the stigmata placed on Swedish companies by correcting an injustice that never should have been.
Do you think that Magnus Daar will get KNC Titan customers their money back as the law requires? Will you join the battle for justice with Magnus Daar against KNC’s illegal activities? How has KNC treated you? Do you think that KNC has any grounds of legal retaliation? Will they lose their millions of dollars of ill-gotten pirate booty from scamming their victims once the group lawsuit is over? Leave a comment below and voice your opinions.
Disclosure: I have two Titans on pre-order with KNC, and I’m in the process of joining the group lawsuit against KNC.
Photo courtesy of [FINISH ME]; other images from Shutterstock.
Last modified (UTC): October 21, 2014 05:41