BTBT.US
id: 445
Bit Digital (BTBT) $2.1 Million Settlement
The settlement funds have been distributed to claimants.
$2,100,000
Cash SettlementS.D. New York
Court1:21-cv-00515
Case number12/21/2020
Class period Start01/11/2021
Class period End03/21/2023
Claim deadlineBit Digital Inc (BTBT) agreed to pay $2.1 million to settle a securities class action lawsuit accusing the Company of deceiving investors about business prospects.
The Complaint alleged that the Company and its Leaders made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleged they failed to disclose to investors that Bit Digital overstated the extent of its bitcoin mining operation.
Bit Digital Inc (BTBT) agreed to settle with investors to avoid further litigation.
Case Status
Disbursed
Alleged Offence
Misleading Statements,
Failure to Disclose,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.5
Filing date
01/20/2021
Plaintiffs
Joseph Franklin, Monkam Nitcheu
Attorneys
Block & Leviton LLP (Boston, MA)
Defendants
Erke Huang
Judge
Hon. Andrew L. Carter, Jr.
Administrator
Kroll
Court hearing date
03/07/2023
Exclusion deadline
02/14/2023
Objection deadline
02/14/2023
Hearing deadline
02/14/2023
Trades matching type
FIFO
Disbursement date
07/29/2024