SEC approval, Luna collapse, liquidity crisis— a deal stacked with triple debuffs.

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Galaxy and BitGo hold a court hearing over the $100 million acquisition termination fee dispute
According to Bloomberg, Galaxy Digital founder and BitGo CEO are in court this week in Delaware over the $1.2 billion failed acquisition in 2021.
BitGo is seeking at least $100 million in termination fees, claiming Galaxy did not make reasonable efforts and concealed regulatory investigations related to Luna; Galaxy claims the investigation did not affect SEC approval, and that BitGo failed to provide compliant audit reports on time, thus has no right to claim.
The deal was originally planned to merge and go public on Nasdaq, but was shelved due to changes in SEC accounting guidelines and the liquidity crisis triggered by the Terra/Luna collapse.
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