Skip to content

2017 Tezo’s ICO U.S. investors may be eligible for a $ 25 million deal

June 2, 2020

Investors who participated in Tezos (XTZ) Initial Coin Offering (ICO) between July 1 and July 13, 2017 were advised that they may be eligible for part of the proposed $ 25 settlement. Millions for an ongoing class action lawsuit for violations of securities.

The final settlement hearing on this case will be held on August 27 to determine whether the settlement and proposed allocation plan are approved as “fair and reasonable” and whether the legal fees will be awarded under the settlement.

According to a statement on June 1, Block Leviton, the company behind the lawsuit, He is now trying to inform qualified investors that they may be entitled to receive part of the deal.

2017 Tezo’s ICO U.S. investors may be eligible for a $ 25 million deal2017 Tezo’s ICO U.S. investors may be eligible for a $ 25 million deal

ICO investors should visit to file a lawsuit.

Tezo’s ICO participants can qualify for the deal

The agreement was proposed on March 20 by the Tezos Foundation, which said that the measure was “best for the Tezos project and the whole because of the cost and time involved in continuing the fight for the case.” Community is “.

Despite the proposed settlement, the Tezos Foundation denies that it has acted improperly and claims the lawsuit is “useless.”

The lawsuit was first filed by Block Leviton in November 2017. The complaint alleged that the Tezos Foundation illegally collected $ 232 million of ether (ETH) in an unregistered offering of securities.

Investors have until October 16 to make claims

At a hearing on April 30th The district judge of the United States, Richard Seeborg, granted preliminary approval of the settlement and wrote: “[L]The court will likely be able to approve the settlement, subject to further consideration in the settlement hearing. “

The deal would also prevent Tezos from running the risk of his ICO valuing a security offer, which could result in a fine of up to $ 150 million.

Investors have until August 6th to object to the deal and until October 16th to file a lawsuit.