I have contacted the offices of my law firm (REDACTED) in Tokyo to begin proceedings to sue Mt.Gox / Tibanne Ltd / Mark Karpeles for my USD funds.  He advised me that suing for USD is much more reliable than suing for BTC (since the price varies and bankruptcy collection on BTC has an unclear legal process).  Given the liquidations we see on MtGox we believe that there are likely other large plaintiffs filing suit, so we want to move quickly.

If you are interested in being co-plaintiffs in this suit, please PM me (I'm happy to split legal costs), and I will put you in touch with the partner I am dealing with.  Note that you will need to provide full proof of identification as well as proof of account ownership on Gox (to be provided to the law firm, not myself).

In general, a class action type suit is most likely to get us "smaller" holders a larger percentage of our funds than if we filed separate law suits.

If it happens that Mt.Gox enters into bankruptcy (likely as a result of a preceding lawsuit), the firm is experienced in bankruptcy negotiations/law to maximize our tier on collections.  Hopefully we can collect before that because Japanese bankruptcy law is neither well defined nor quick.

We are looking to finish collecting plaintiffs by EOD Friday JST, and file a case as early as we can get the paperwork together next week.