Page 36 of 40 166. As a direct and proximate result of Defendants’ false advertisements, Plaintiffs have suffered injury to their property and have been deprived of the benefits of fair competition. Defendants were perpetrating a premeditated fraud against Plaintiffs. Had Plaintiffs known the truth, they would not have purchased investment interests in Tokens issued by Latinum through Defendant KJ. As a result, Plaintiffs suffered damages in an amount according to proof at trial. COUNT 15 Unfair Competition in Violation of Business and Professions Code Section 17200, et seq. (Against All Defendants) 167. Plaintiffs incorporate by reference all foregoing factual allegations as if fully set forth herein. 168. Plaintiffs bring this claim for relief for unfair competition in violation of California Business and Professions Code Section 17200 under the alternative theory in the event the Court were to consider Token not to be a security. 169. California Business and Professions Code Section 17200 prohibits any “unlawful, unfair, or fraudulent business act or practices.” Defendants have engaged in unlawful, fraudulent and unfair business acts and practices in violation of the California Unfair Competition Law. 170. Defendants have violated the “unlawful” prong of California Business and Professions Code Section 17200 by their violations of the federal and state securities laws, including sections 5(a), 5(c) and 12(a) of the Securities Act, 15 Case 2:22-cv-10208-RHC-JJCG ECF No. 1, PageID.36 Filed 02/01/22 Page 36 of 40
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