An organization working what analysts mentioned was a “pump and dump” cryptocurrency mining scheme has settled a securities class motion introduced on behalf of traders for $5 million.
U.S. District Choose Robert Kugler. Photograph: Carmen Natale/ALM
Senior U.S. District Choose Robert Kugler on Friday adopted a report by U.S. Justice of the Peace Choose Elizabeth Pascal recommending approval of the settlement with SOS Restricted of Qingdao Metropolis, China. The report requires allocation of $1.7 million from the settlement fund for authorized charges and prices.