Tezos Settles Class Action Lawsuit for $25 Million
However, in December 2017, a private plaintiffs group filed a lawsuit against Tezos and its founders, accusing the ICO as an unauthorized securities offering. According to the lawsuit, Tezos violated US securities laws because of its 2017 ICO.
The three-year-long class-action lawsuit regarding Tezos 2017 ICO has settled for $25 million. The two sides had agreed to settle in March and are now approved by the federal judge. Tezos and its founders agreed to pay $25 million in cash to resolve the case. However, the settlement means the court has not ruled on whether Tezos' ICO was an unregistered securities sale.
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