- Galaxy Digital violated the Merger Agreement with Bitgo.
- Bitgo filed a case on Galaxy Digital for $100M over breaching the Merger Agreement.
នៅថ្ងៃទី ២៩ ខែសីហាឆ្នាំ ២០១២ TheCoinRepublic reported that Galaxy Digital Holdings (TSX: GLXY) made sense that the organization has ended a proposed $1.2 billion stock and money bargain that would permit the crypto firm to procure the computerized resource guardianship business and monetary administrations supplier Bitgo.
World’s declaration subtleties that the unwanted arrangement was because of Bitgo’s inability to convey explicit monetary reports.
ដំណឹងនេះបន្ទាប់ពីការបើកចំហររបស់ Galaxy ចំពោះការដួលរលំនៃ Terra blockchain និងអ្នកត្រួសត្រាយផ្លូវរបស់អង្គការ Mike Novogratz ដែលកំពុងស្វែងរកប្រធានបទ LUNA នៅពាក់កណ្តាលខែឧសភា។
After the announcement of deal termination by Galaxy Digital Holdings by a press release, Bitgo responded to the company’s allegations by organizing a press release and highlighting that Galaxy Digital is “legally responsible for its improper decision of terminating the alliance.”
នៅថ្ងៃទី ២៣ ខែកញ្ញាគ។ ស។ ប៊ីហ្គហ្គោ informed them about a case they filed on Galaxy Digital for “improper repudiation and intention breach of its merger agreement.”
Although Bitgo is closely working with Los Angeles-based lawyer, Quinn Emanuel and the litigation firm’s partner Brian Timmons underlined that “Although Bitgo does not believe that the complaint contains any confidential information, it was filed in Delaware Chancery Court under seal in an abundance of caution in the event.”
Quinn Emanuel is one of the world’s highest-level white shoe law offices, with 23 workplaces in a horde of nations. After Galaxy’s official statement had been distributed, R. Brian Timmons, a band with Quinn Emanuel, talked about the issues between the two organizations.
Bitgo quoted that Galaxy “contends otherwise and wishes to redact some of the allegations before the complaint becomes public.”
ប៊ីហ្គហ្គោ believes the company is owed $100million due to termination fees, and many cryptos were covering the story closely. A user replied on the post of Bitgo that “It will be interesting to see what the details of the allegations are.”
Source: https://www.thecoinrepublic.com/2022/09/16/bitgo-registered-a-case-on-galaxy-digital-for-100m-over-the-intentional-breach-merger-agreement/