Fintech Firm RYVYL’s Investor Class Settlement Gets Court Assent

RYVYL Inc.‘s $1 million agreement with shareholders earned a federal court’s final approval to end class action allegations that the blockchain payments company overstated revenue and other metrics before announcing it needed to restate certain financial results.

“An overwhelmingly positive reaction of class members to a proposed settlement significantly weighs in favor of the settlement’s adequacy,” Judge Gonzalo P. Curiel said in an order entered Monday.

The class settlement ends allegations against the blockchain firm in exchange for $300,000 in cash, 700,000 freely tradeable RYVYL shares, and a put option—a combined value of no less than $1 million—the US ...