US Court grants Galaxy Digital victory, dismisses $100m BitGo lawsuit
The Delaware Court of Chancery has granted a motion by Galaxy Digital, resulting in the dismiss al of BitGo’s case following the abandoned acquisition. Vice chancellor J. Travis Laster affirmed that Galaxy Digital had the right to terminate the acquisition of BitGo, asserting a “clean termination right” in their decision announced in 2022. Complaint dismissed According to official court documents filed on June 9, vice chancellor J. Travis Laster dismissed BitGo’s complaint against Galaxy Digital, imposing a dismissal with prejudice. This decision comes after Galaxy Digital withdrew its intent to acquire BitGo in August 2022 as part of a substantial $1.2 billion deal. We’re pleased with the court’s decision to dismiss BitGo’s claims. Now is the time for all of us to work together and focus on the task at hand: Upgrading the global financial system in a manner that promotes innovation and protects investors and consumers alike. pic.twitter.com/xPrMP8AghW ...