Oct. 25, 2022, 3:55 PM

A proposed $2.1 million settlement between Bit Digital Inc. and its stockholders over allegedly false statements in regards to the firm’s bitcoin mining ought to be authorized in mild of the dangerous prospects of continued class litigation, the buyers instructed a federal court docket.

Although lead plaintiff Joseph Franklin Monkam Nitcheu offered testimony estimating that most potential damages might attain $123 million, there’s an actual danger the category might recuperate nothing in any respect, he stated. The US District Court docket for the Southern District of New York ought to discover the proposed deal truthful and affordable, he stated within the submitting Monday.

Traders in consolidated …

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