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On October 27, 2023, the Superior Court of California, County of San Francisco, issued an order granting final approval of a $17.85 million settlement of the FEI/TRIBE tokens securities class action (“Settlement”) commenced by HGT Law, alleging that Defendants Fei Labs, Inc., Joseph Santoro, Brianna Montgomery and Sebastian Delgado failed to comply with the registration requirements of the Securities Act of 1933 in conducting the sale of FEI and TRIBE tokens through the Fei Protocol during the Genesis Event.

On June 28, 2023, the Superior Court of California, County of San Francisco, issued an order granting preliminary approval of a $17.85 million settlement of the FEI/TRIBE tokens securities class action (“Settlement”) commenced by HGT Law alleging that Defendants Fei Labs, Inc., Joseph Santoro, Brianna Montgomery and Sebastian Delgado failed to comply with the registration requirements of the Securities Act of 1933 in conducting the sale of FEI and TRIBE tokens through the Fei Protocol during the Genesis Event.

On September 16, 2022, the Superior Court of California, County of San Francisco, issued an order overruling Defendants’ demurrer (i.e., upholding the claims) in the class action commenced by HGT Law seeking rescission on behalf of all investors who invested in the offering of FEI/TRIBE digital tokens between 12:01 PM on March 31, 2021 and 12:01 PM on April 3, 2021, Pacific Standard Time (the “Offering”).