NY Judge Rejects $27.5M Deal Over Class Rep

By Lauren Berg (August 15, 2022, 10:19 PM EDT) — A New York federal judge on Monday refused to give his final blessing to a $27.5 million securities settlement over a cryptocurrency company’s $4 billion initial coin offering nor did he approve a $5.5 million attorney fees request, questioning the lead plaintiff’s ability to represent the class.

U.S. District Judge Lewis A. Kaplan concluded in a 25-page order that there are too many questions regarding the proportion of lead plaintiff Crypto Assets Opportunity Fund LLC’s purchase of’s domestic crypto tokens — which are covered by securities laws and eligible for a damages award — compared to the domestic purchases by absent…

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Source link

Leave A Comment

Your email address will not be published. Required fields are marked *