US court dismisses BitGo’s claims in $100M lawsuit against Galaxy Digital By Cointelegraph
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The Delaware Court of Chancery in the United States has granted a motion from crypto investment firm Galaxy Digital largely dismissing digital asset custodian BitGo’s case following a dropped acquisition of the firm in 2022.
According to court documents filed on June 9, Vice Chancellor J. Travis Laster dismissed BitGo’s complaint against Galaxy Digital with prejudice. The decision followed Galaxy dropping its decision to acquire BitGo in August 2022 as part of a $1.2-billion deal after extensive efforts, citing a breach of contract. BitGo subsequently filed a lawsuit against Galaxy seeking $100 million in damages.
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The Delaware Court of Chancery in the United States has granted a motion from crypto investment firm Galaxy Digital largely dismissing digital asset custodian BitGo’s case following a dropped acquisition of the firm in 2022.
According to court documents filed on June 9, Vice Chancellor J. Travis Laster dismissed BitGo’s complaint against Galaxy Digital with prejudice. The decision followed Galaxy dropping its decision to acquire BitGo in August 2022 as part of a $1.2-billion deal after extensive efforts, citing a breach of contract. BitGo subsequently filed a lawsuit against Galaxy seeking $100 million in damages.
Continue Reading on Coin Telegraph
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