Update On Civil Litigation Involving The Tezos Foundation
Today, the Tezos Foundation and the other defendants have entered into a settlement, subject to court approval, of all putative class action lawsuits, all of which are pending in California state and federal courts.
The Tezos Foundation chose to settle all claims because the Tezos Foundation believes it is in the best interest of the Tezos project and community as a whole. The Foundation continues to believe the lawsuits were meritless and continues to deny any wrongdoing. However, lawsuits are expensive and time-consuming, and it was decided that the one-time financial cost of a settlement was preferable to the distractions and legal costs associated with continuing to fight in the courts.