The digital asset trust company and security company, BitGo has sued crypto investment firm Galaxy Digital for $100 Million after Galaxy Digital backed out of its planned acquisition of the firm.
BitGo filed the lawsuit late Monday. The firm’s move to sue Galaxy Digital is not surprising at all as it had previously declared in August that it would do just that after Galaxy Digital abandoned the deal.
Galaxy Digital cited the reason for the termination as BitGo failed to deliver audited financial statements for 2021 by July 31, 2022.
The lawsuit was filed in Delaware Chancery Court and as per Brian Timmons, attorney from the firm Quinn Emanuel under ‘seal in order to protect any sensitive data’.
Also Read: Galaxy Digital Terminates BitGo Acquisition Agreement
