Important Updates on DraftKings NFT Class Action Settlement
Overview of the DraftKings NFT Settlement
If you've engaged with DraftKings NFTs in any capacity—whether buying, selling, or holding—you need to be aware of a significant development regarding a proposed settlement in a class action lawsuit.
Understanding the Class Action
An ongoing class action lawsuit, Dufoe v. DraftKings, has raised important issues regarding the nature of NFTs offered by DraftKings. The lawsuit asserts that the NFTs should be classified as securities that were not registered properly as per the law.
Your Legal Options
As a potential claimant in this case, you have three key options:
- Stay within the Settlement Class and submit a claim to receive benefits.
- Opt-out of the Settlement Class to preserve your legal rights.
- Object to the terms of settlement if you have concerns.
Important Deadlines
To benefit from this settlement, you need to be aware of crucial deadlines. For instance, to submit a Claim Form, you must do so by July 21, 2025. Additionally, if you wish to opt-out or raise objections, you need to do that by July 9, 2025.
Final Approval Hearing
A Final Approval Hearing is scheduled for July 30, 2025, where the court will determine whether the proposed settlement is fair and reasonable. This hearing date is subject to change, and updates will be posted on the official settlement website.
Class Counsel and Fees
The court has appointed Class Counsel to represent eligible claimants, and they may request a fee of up to one-third of the settlement amount, which totals $10 million. However, the final amount awarded will be up to the court's discretion.
Why You Should Act Now
This settlement presents an opportunity for individuals involved with DraftKings NFTs to seek restitution. Engaging with this process may help influence the future transactions of digital assets in marketplaces similar to DraftKings.
If you have any inquiries or wish for more information, please refer to the official settlement website. Remember, this process is not a solicitation, and it will not be wisely addressed through the court directly.
Frequently Asked Questions
What is the DraftKings NFT Settlement about?
The settlement pertains to a class action lawsuit claiming that DraftKings NFTs function as unregistered securities.
What do I need to do to file a claim?
You must complete and submit a Claim Form online before the specified deadline.
When is the deadline to opt-out or object?
The deadline to opt-out or file any objections is July 9, 2025.
How will attorneys' fees be calculated?
The attorneys' fees may be up to one-third of the settlement amount, with the final decision made by the court.
Where can I find more information?
For more details, visit the official website dedicated to the settlement or contact Class Counsel directly.
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