GigaWatt tokens are the DEFINITION of a utility token. I'm 100% sure this lawsuit will go nowhere. WTT tokens are tied DIRECTLY to power provided for mining rigs, and is currently up and running as a utility token for those of you lucky enough to have rigs deployed already. On top of that, they are required to hold excess WTT in escrow until they have the matching power up and running to support it, which is why the latest batches are taking so long.
FUD all you want, I'm confidant GigaWatt will be a premier mining provider going forward.
That's one way to look at it...but you still have people that purchased it under the premise that they are guaranteed to receive passive income by renting the tokens out, so I don't see why you would be so confident one way or the other.
All Gigawatt had to do was refund the entity that requested the refund and they probably wouldn't even be dealing with this. They have verbiage in the whitepaper that explains they will refund based on certain circumstances, and those circumstances likely apply in this scenario. Now this thing is slowballing, and there are def scenarios where this could become a nuisance.