Asset managers Osprey Funds and Grayscale Investments agreed to settle a lawsuit over alleged violations of Connecticut law in the advertising and promotion of Grayscale’s Bitcoin exchange-traded fund (ETF). According to an April 9 court filing, the parties agreed to settle the two-year-old case and are finalizing documentation and settlement terms.
The filing noted that once those steps are completed, Osprey will withdraw its appeal.“Soon after this appeal was filed, the parties reached a settlement of this case,” the motion stated.“It is expected that all these tasks can be done within 45 days, and it is uncertain whether a shorter extension would suffice.”Details of the settlement have not been made public. Grayscale and Osprey reach settlementThe legal battle between the two firms started on Jan.30, 2023, when Osprey filed a suit in the Connecticut Superior Court.
Related: Crypto ETPs shed $240M last week amid US trade tariffs — CoinSharesLawsuit settlement follows Osprey appeal On Feb.7, Judge Mark Gould sided with Grayscale, ruling that Osprey’s claims against the asset manager were exempted from the Connecticut Unfair Trade Practices Act. Osprey responded by filing a motion for reargument on Feb.10.
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Author / Journalist: Cointelegraph by Ezra Reguerra
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