Sport-BLX Inc. and a minority investor both breached obligations in a suit surrounding the digital asset company’s change of business plan, but the investor is entitled to greater damages, a Manhattan federal court jury has determined.
The US District Court for the Southern District of New York jury awarded Cypress Holdings III LP net damages of $544,330, in a verdict returned on Feb. 6.
Sport-BLX was founded to use blockchain technology to divide assets such as racehorse and athlete images into units for purchase, according to the complaint. Two board members with majority control allegedly changed the business plan, ...