The Maker Foundation is being sued in a class-action lawsuit for $28 million over the March 12 event that caused over $2 million in liquidations. The lawsuit alleges that the team behind the Makerdao project did not explain the extreme risk of loss to investors.

The court document was filed by an investor named Peter Johnson who alleges he had 1713.7 ETH collateral locked into a Makerdao loan.

The court filing notes that Johnson wants roughly $8.2 million for three charges and about $20 million for punitive and treble damages. After Johnson lost more than $200,000 worth of ETH, he claims that the Makerdao’s actions were “intentional and fraudulent.”

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