March 23, 2020 The Tezos Foundation has announced that it is settling all of its class-action lawsuits.

The Tezos Foundation announced on Friday that it has entered into a settlement in concert with its other defendants for its class-action lawsuits. Although in its statement, the Foundation stated that it believed the claims were “meritless” and that it does not accept any fault, it reportedly made the decision based on financial and time expense, stating that the decision was “in the best interest of the Tezos project and community as a whole”. The settlement is not yet final however and needs to be approved by the courts. Tezos had previously conducted a $232 million initial coin offering (ICO) in July 2018 that led to two lawsuits alleging that the offering was an unregistered securities offering.