Digital asset manager Galaxy Digital may face further delays in its plan to list on Nasdaq if a class action lawsuit against it in Canada is certified, according to sources. The suit, filed in December, seeks CAD $2 billion in damages, alleging that Galaxy failed to comply with reporting requirements on its holdings of the Luna cryptocurrency and that CEO Mike Novogratz made misrepresentations about the company’s exposure to the cryptocurrency prior to its collapse in May. Galaxy intends to contest the charges. If the suit is certified, the parties could go to court, or Galaxy could seek dismissal.
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