Judge Grants Preliminary Approval Of $3.5M Settlement In Crypto Securities Suit

Mealey's (March 2, 2023, 1:54 PM EST) -- NEW HAVEN, Conn. — A federal judge in Connecticut granted preliminary approval of a proposed $3.5 million settlement between lead plaintiffs and the founder of two cryptocurrency companies and the companies themselves in a securities class action stemming from the defendants’ alleged operation of a Ponzi scheme-like fraud, ruling that the settlement is fair, reasonable and adequate....