ICO securities class-action against Unikrn is kept out of arbitration, but is that bad for them?

Quick TakeHastings v. Unikrn, Inc. 2020 Wash.App. LEXIS 808, is a new Washington State court of appeals decision involving a putative securities class action arising out of 2017 token sale.Defendants moved to compel arbitration based on an arbitration clause in the sale’s terms of service.The Court said that there wasn’t sufficient evidence to find that the buyer had agreed to the terms, so it affirmed a trial court ruling keeping the case out of arbitration and in court.The case illuminates the challenge of creating a work flow that can be used to enforce online terms of service.It also raises questions about the pros and cons of arbitration, which are discussed following a summary of the court’s opinion.