The Tezos class action lawsuit may have come to an end, but the two legal firms involved are engaged in a battle over the settlement fee.
No settlement money, however, will be distributed to ICO investors who profited off of their Tezos investment.
Tezos has agreed to a $25 million settlement with U.S. investors who invested in its ICO three years ago.
Bitfury has become the latest company in the blockchain industry to donate its computing power to COVID-19 research, contributing to the Folding at Home project
Perhaps believing they’d lose badly in court, the Tezos Foundation have decided to settle their ICO lawsuit out of court.
Venture capitalist Tim Draper has been let off the hook with regards to a class action suit brought by investors of the ill-fated Tezos digital coin.
In an attempt to regain some footing and possibly some of the public trust it has lost, Tezos entered a deal with PricewaterhouseCoopers (PwC), which will “act as the external auditor for the Foundation’s finances and operations.”
Bitcoin Suisse AG has filed a motion in an effort to be removed from a lawsuit against Tezos, indicating that it was in no way involved with the initial coin offering (ICO) launched by the startup in 2017.
Arthur Breitman has been fined by the Financial Industry Regulatory Authority to the tune of $20,000 over a number of false statements he reportedly made regarding his venture whilst he was still an employee of Morgan Stanley.