Home›Crypto›Market Structure›Athena Bitcoin faces court review of $4.5 million sett…

Athena Bitcoin faces court review of $4.5 million settlement over texts

A federal judge will consider the settlement along with class counsel fees and litigation expenses, which could leave less than $3 million for approved claimants to share.

Reported · Written up by our desk · Market Structure

Crypto ATM firm Athena Bitcoin has a proposed $4.5 million settlement over telemarketing text messages scheduled for final review in federal court on Aug. 10, according to CryptoSlate.

The case alleges Athena sent more than one promotional text within a 12 month period to certain recipients more than 30 days after they replied with a message consisting only of “STOP.” Athena has denied wrongdoing or any violation of the law, and the settlement is not a court finding that the allegations are true.

The federal class covers residential subscribers across the US from Aug. 20, 2020, to Aug. 20, 2024, excluding business numbers. A separate class covers qualifying Florida recipients under the Florida Telephone Solicitation Act, using different eligibility thresholds, and both classes would share the same $4.5 million fund.

Class counsel has sought a fee equal to 33% of the fund, or about $1.48 million, plus costs and expenses expected to be no more than $30,000, the court recorded in a March 11 preliminary-approval order. CryptoSlate reports that the final amount available to claimants would depend on court approved deductions and the number of timely, valid claims, and until approval and finalization, the $4.5 million remains a proposed common fund.

Latest closeBitcoin $63,902.32 ▼1.4%

More like this

Sources