Galaxy’s Novogratz and BitGo face off in court over $100 million claim: Bloomberg
The Block
Galaxy Digital and BitGo have begun a court battle over a $100 million termination fee following a collapsed $1.2 billion acquisition deal.Summary
Galaxy Digital and BitGo are currently in litigation regarding a failed $1.2 billion acquisition attempt from 2022. BitGo is seeking a $100 million termination fee, alleging that Galaxy failed to make reasonable efforts to close the deal and withheld information regarding U.S. regulatory probes. Conversely, Galaxy Digital maintains that it terminated the merger due to BitGo's failure to provide required audited financial statements by the agreed deadline.
(Source：The Block)