Block.one settled a class-action lawsuit filed by the Crypto Assets Opportunity Fund related to the company’s recording-setting $4 billion token sale in 2018.
- The court-approved $27.5 million settlement closes the lawsuit, Block.one announced Friday.
- Block.one called the suit “without merit” in a blog post but said the settlement would allow it “to focus more time and energy on running our business.”
- Block.one previously settled with the U.S. Securities and Exchange Commission for $24 million over the alleged unregistered securities sale.
- Block.one raised the whopping sum at the peak of the crypto market’s last bull run to build the software that powers the EOS blockchain.
This is a developing story and will be updated.
Source: Coindesk
