Forbes: Galaxy Digital's IPO plan may be delayed due to Luna-related lawsuits

ChainCatcher news, according to Forbes, if a pending lawsuit related to Luna is recognized as a class action, Canadian crypto investment firm Galaxy Digital's plans to go public on NASDAQ may face new delays.

The case was filed last December in the Ontario Superior Court of Canada, seeking approximately CAD 2 billion in damages, alleging that Galaxy failed to comply with its reporting requirements for holdings in Luna, and accusing Galaxy CEO Mike Novogratz of making false statements about the company's risks related to cryptocurrency prior to the collapse of Luna. Galaxy plans to contest these allegations.

As new evidence may emerge during the proceedings, attorney Sean Masson from the law firm Scott & Scott stated that Galaxy Digital's efforts to go public in the U.S. may be hindered once again.