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Fir Tree Capital Administration and crypto asset supervisor Grayscale Investments have reached an settlement to resolve a lawsuit filed by Fir Tree in opposition to Grayscale final 12 months.
In December, Fir Tree Capital Administration sued Grayscale, looking for data to research potential mismanagement and conflicts of curiosity, based on Delaware courtroom paperwork.
Beneath the settlement introduced Tuesday, Grayscale will present documentation on the corporate’s flagship product, GBTC.
The product is designed to supply publicity to bitcoin within the type of securities that sometimes commerce at a premium or low cost to internet asset worth.
Fir Tree’s authentic grievance mentioned Grayscale buyers had been harmed by “shareholder-unfriendly conduct”. It additionally referred to as on the corporate to permit GBTC to be redeemed.
Grayscale ought to make a young provide for GBTC’s shares, the corporate mentioned. Grayscale wants shareholder approval for such an providing.
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