Gambling company DraftKings has agreed to pay a $10 million settlement to a group of NFT buyers that accused it of selling unregistered securities.
DraftKings has agreed to pay $10 million to settle a securities class-action lawsuit from buyers of its non-fungible tokens (NFTs) that the gambling company sold through its now-shuttered marketplace.
On Feb. 28, Boston federal court Judge Denise Casper granted a preliminary settlement motion filed days earlier on Feb. 26 by lead plaintiff Justin Dufoe and the class, which would settle all claims “for $10 million in cash.”
The settlement deal would see the $10 million split between the class action’s members. The deal also added that Dufoe anticipates later asking for a $50,000 award “for his time and effort litigating the case” along with attorneys’ fees of up to one-third of the settlement fund plus litigation expenses.
