Bankrupt Celsius to Pay More to Settle Creditors’ Misconduct Suit

Bankrupt Celsius Network LLC is proposing to pay 5% more on many account holders’ claims if they opt into a lawsuit settlement related to accusations of management misconduct.

The proposed settlement with the unsecured creditors committee “avoids the delay and costs of potentially protracted litigation,” the cryptocurrency lender said in a motion to approve the settlement, filed Thursday with the US Bankruptcy Court for the Southern District of New York.

Earlier this year, the committee, representing a large swath of account holders, filed the proposed class action, seeking at least $5.2 billion in damages and accusing Celsius of fraud, misrepresentation, ...