Class action lawsuit targeting Tezos ends in $25M settlement after 3 years

[Lenipiw]

After three long years, the class-action lawsuit alleging that Tezos violated securities laws through its 2017 ICO has concluded.
The three-year-long class action lawsuit targeting Tezos (XTZ) has come to a conclusion after Judge Seeborg approved Tezos’ $25 million settlement on Friday.

According to the judgment, the funds will be distributed among “all persons and entities” who participated in Tezos’ 2017 initial coin offering from July 1 to 13 and sold their XTZ for a loss before Nov. 25, 2019, did not sell their tokens before Nov. 25, or are unable to access their XTZ due to lost passwords.

Eligible parties must file a claim to receive a share in the settlement before Oct. 16, 2020.
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