Proposed $25 Million Settlement Reached in Tezos Securities Litigation Pending in United States District Court for the Northern District of California

SAN FRANCISCO, June 1, 2020 /PRNewswire/ -- This message has been authorized by Order of the United States District Court, Northern District of California in the matter In re Tezos Securities Litigation, No. 3:17-cv-06779-RS.

If you contributed money or cryptocurrency to the Tezos Foundation between July 1, 2017 and July 13, 2017, you may be entitled to share in a $25 million settlement.

Your rights will be affected by a class action lawsuit pending in the United States District Court, Northern District of California.

Pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California, the matter In re Tezos Securities Litigation, No. 3:17-cv-06779-RS (the "Action") has been certified as a class action on behalf of a Settlement Class, except for certain persons and entities who are excluded from the Settlement Class by definition as set forth in the full Notice of Pendency of Class Action and Proposed Settlement; Settlement Fairness Hearing; and Motion for Award of Attorneys' Fees and Reimbursement of Litigation Expenses (available at www.TezosFoundationSettlement.com) (the "Notice").

Lead Plaintiff has reached a proposed settlement of the Action for $25,000,000 in cash (the "Settlement") that, if approved, will resolve all claims in the Action.

A hearing will be held on August 27, 2020, at 1:30 p.m., before the Honorable Richard G. Seeborg at the United States District Court, Northern District of California, San Francisco Courthouse, Courtroom 3, 17th Floor, 450 Golden Gate Avenue, San Francisco, CA 94102, to determine (i) whether the Proposed Settlement should be approved as fair, reasonable, and adequate; (ii) whether the Action should be dismissed with prejudice against Defendants, and the Releases specified and described in the Stipulation and Agreement of Settlement dated March 16, 2020, should be granted; (iii) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (iv) whether Federal and State Lead Counsel's application for an award of attorneys' fees and expenses should be approved.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement Fund. You should visit www.TezosFoundationSettlement.com to review the full Notice and download or fill out the Proof of Claim and Release Form ("Claim Form"). You may also obtain copies of the Notice and Claim Form by contacting the Claims Administrator at In re Tezos Securities Litigation, c/o Epiq, P.O. Box 3770, Portland, OR 97208-3770, 1-866-977-1042 or 1-503-597-7670.

The deadline to exclude yourself from the class or object is on August 6, 2020. The deadline to submit a claim is on October 16, 2020. You should carefully review the full notice on the Settlement Website at www.TezosFoundationSettlement.com.

Please do not contact the Court, the Clerk's Office, the Tezos Foundation, or its counsel regarding this notice. All questions about the notice, the Proposed Settlement, or your eligibility to participate in the Settlement should be directed to Federal Lead Counsel or to the Claims Administrator.

Inquiries, other than requests for the Notice and Claim Form, should be made to Federal Co-Lead Counsel:

Block & Leviton LLP
260 Franklin Street, Suite 1860
Boston, MA 02110
(617) 398-5600
[email protected]

The Notice, Claim Form, and additional information can be found at www.TezosFoundationSettlement.com or by contacting the Claims Administrator at:

In re Tezos Securities Litigation
c/o Epiq
P.O. Box 3770
Portland, OR 97208-3770

U.S. & Canada Toll-Free Number: (866) 977-1042
International Number: (503) 597-7670
Email: [email protected]
Website: www.TezosFoundationSettlement.com

SOURCE BLOCK & LEVITON LLP

Related Links

http://www.tezosfoundationsettlement.com/