HGT Law Obtains Settlement In Novel Tezos Cryptocurrency Securities Case

On August 28, 2020, the Honorable Richard Seeborg, United Stated District Judge for the Northern District of California, issued a judgment granting final approval of a settlement of the securities class action, In re Tezos Securities Litigation, Case No. 3:17-cv-06799-RS (N.D. Cal.).  HGT Law served as Co-Lead Counsel in this litigation. Under the settlement, the Tezos Foundation will pay $25 million to settle the claims of class members. The Tezos litigation is one of the first lawsuits to allege claims under the Securities Act of 1933 in connection with a cryptocurrency “Initial Coin Offering,” and is one of the first lawsuits to successfully obtain a recovery for investors.

A copy of Judge Seeborg’s judgment can be found here and a copy of the Stipulation of Settlement can be found here.

For more information about the Tezos action or any of our other cases, please contact us at (646) 453-7288 or via email at info@hgtlaw.com.