Galaxy Digital, a major digital asset manager, is facing potential new delays in its Nasdaq price plan due to a class action lawsuit in Canada linked to the failed Terra/Luna crypto ecosystem.
The proposed class action, filed in December in Ontario Superior Court, seeks approximately $2 billion CAD in damages, alleging that Galaxy failed to comply with reporting requirements for its holdings in Luna and that CEO Mike Novogratz made misrepresentations about the company’s exposure to cryptocurrency prior to its collapse in May 2022.
The link between Galaxy Digital and the failed Terra/Luna crypto ecosystem
Galaxy Digital has expressed its intention to fight the allegations and believes that the allegations are baseless.
However, if the lawsuit is certified as a class action, it could potentially lead to delays in Galaxy’s plan to be listed on the Nasdaq and attract the attention of regulatory bodies such as the US Securities and Exchange Commission (SEC).
Class certification wou
We współpracy z: https://en.cryptonomist.ch/2023/08/03/crypto-news-terra-luna-lawsuit/
