The trustee-controlled bankruptcy estate for SafeMoon US LLC reached a deal to pay an estimated $12 million to a class of investors who say they were defrauded through sales of the company’s crypto token.
SFM token holders will collect against SafeMoon on a classwide basis after the company pays unsecured creditors in full, according to settlement papers filed Wednesday in the US Bankruptcy Court for the District of Utah by Chapter 7 trustee Ellen E. Ostrow.
The deal resolves litigation initiated against the company in 2022 by investors alleging they were misled about the safety of the token by company ...