TORONTO, April 25, 2023 /CNW/ - SMK Law P.C., a Canadian investor rights law firm, and Bates Barristers announce that a class action lawsuit has been filed against Galaxy Digital Holdings Ltd. ("Galaxy" or the "Company") (TSX: GLXY) (OTC: BRPHF) in the Superior Court of Justice of Ontario.
The claim seeks certification on behalf of a class consisting of all persons or entities, wherever they may reside or be domiciled, who purchased Galaxy shares between May 17, 2021 and May 6, 2022, and continued to hold at least some shares on May 7, 2022. Certain persons or entities related to the defendants in the action are excluded from the class.
Galaxy operates in the digital asset industry. The claim alleges that throughout the class period, defendants made material misrepresentations regarding the Company's exposure to the Terra ecosystem of digital assets. These misrepresentations caused Galaxy shares to trade at artificially inflated prices until Terra collapsed during the week beginning on May 8, 2022. During that week, Galaxy suffered a loss of market capitalization of approximately CAD 2 billion dollars.
As a result of defendants' misrepresentations, and the precipitous decline in the market value of the Company's stock, the class suffered significant damages.
Interested parties can access the claim by visiting the SMK Law website. If you purchased or otherwise acquired Galaxy shares and suffered a loss or would like to learn more about the claim please contact SMK Law by email at firstname.lastname@example.org or by filling out this contact form.
About SMK Law P.C.
SMK Law P.C. is a Canadian investor rights law firm representing institutional and individual investors. The firm is led by Soheil Karkhanechi who has decades of leadership experience in the securities and asset management industries in Canada and the US. For more information about the firm, please visit www.smklawyers.ca.
About Bates Barristers
Paul Bates acts as senior counsel for leading law firms in Canada and England in high-stakes business litigation, class actions, and appeals.
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SOURCE SMK Law
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