Law360 (June 14, 2021, 5:52 PM EDT) — Cryptocurrency firm Block.one has inked a $27.5 million settlement to resolve token consumers’ allegations that its $4 billion preliminary coin providing violated securities regulation, in keeping with paperwork filed in New York federal court docket.
Block.one and lead plaintiff Crypto Property Alternative Fund LLC sought court docket approval for the deal on Friday. Crypto Property Alternative Fund, or CAOF, and a proposed class of token consumers stated the deal balances the seriousness of the allegations and the challenges of litigating them.
“The proposed settlement … represents a major restoration for the category — a consequence that’s much more spectacular in gentle of the…
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