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Kroll Settlement Administration Announces a Proposed Class Action Settlement Has Been Reached in the BlockFi Securities Litigation

By: Kroll Settlement Administration via GlobeNewswire

September 22, 2025 at 10:00 AM EDT

PHILADELPHIA, Sept. 22, 2025 (GLOBE NEWSWIRE) -- The following statement is being issued by Kroll Settlement Administration regarding In re BlockFi Inc. Securities Litigation, Case No. 2:23-cv-01165-CCC-LDW pending in the United States District Court for the District of New Jersey.

TO: ALL PERSONS WHO INVESTED, DEPOSITED, OR OTHERWISE ACQUIRED ASSETS IN BLOCKFI INTEREST-BEARING ACCOUNTS BETWEEN JANUARY 1, 2019, AND NOVEMBER 28, 2022, BOTH DATES INCLUSIVE (THE “SETTLEMENT CLASS”).

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the District of New Jersey that a hearing will be held on December 11, 2025 at 11:00 a.m. ET before the Honorable Claire C. Cecchi, U.S.D.J., United States District Judge of the District of New Jersey, Martin Luther King Building & U.S. Courthouse, 50 Walnut Street, Courtroom 5B, Newark, NJ 07101, for the purpose of determining: (1) whether the proposed Settlement of the claims in the above-captioned Action for consideration including the sum of $13,250,000 should be approved by the Court as fair, reasonable, and adequate; (2) whether the proposed plan to distribute the Settlement proceeds is fair, reasonable, and adequate; (3) whether the application of Lead Counsel for an award of attorneys’ fees (inclusive of reimbursement of expenses and a compensatory award to Lead Plaintiffs) should be approved; and (4) whether this Action should be dismissed with prejudice as set forth in the Stipulation of Settlement dated February 3, 2025 (the “Settlement Stipulation”).

If you invested, deposited, or otherwise acquired assets in BlockFi Interest-Bearing Accounts between January 1, 2019 to November 28, 2022, both dates inclusive (the “Settlement Class Period”), your rights may be affected by this Settlement, including the release and extinguishment of claims you may possess relating to your interest in BlockFi Interest-Bearing Accounts.

If you have not received a detailed Notice of Proposed Settlement of Class Action (“Notice”), you may obtain a copy by visiting www.BlockFiSecuritiesSettlement.com or by contacting the Claims Administrator toll-free at (833) 876-2075. If you are a member of the Settlement Class, you do not need to take any action in order to share in the distribution of the Net Settlement Fund. Unless you submit a written exclusion request, you will be bound by any judgment rendered in the Action.

If you desire to be excluded from the Settlement Class, you must submit to the Claims Administrator a request for exclusion so that it is received no later than November 20, 2025, in the manner and form explained in the Notice. All members of the Settlement Class who have not requested exclusion from the Settlement Class will be bound by any judgment entered in the Action pursuant to the Settlement Stipulation. Note, however, that certain releases in favor of Defendants and other Releasees have previously occurred in connection with BlockFi’s bankruptcy. Whether you remain in the Settlement Class or exclude yourself in this case will have no impact on any release of your claims against Defendants and other Releasees that may have already occurred in connection with BlockFi’s bankruptcy if you did not exclude yourself from those releases. Participating in or excluding yourself from the settlement in this case also will neither increase nor decrease any recovery you may be entitled to receive in connection with BlockFi’s bankruptcy.

Any objection to the Settlement, Plan of Allocation, or Lead Counsel’s request for an award of attorneys’ fees and reimbursement of expenses and award to Lead Plaintiff must be in the manner and form explained in the detailed Notice and received no later than November 20, 2025, to each of the following:

Clerk of the Court
Martin Luther King Building & U.S. Courthouse
50 Walnut Street, Room 4015
Newark, NJ 07101
973-645-3730

Lead Counsel
Brian Calandra
POMERANTZ LLP
600 Third Avenue, Floor 20
New York, New York 10016
Telephone: (212) 661-1100
Facsimile: (917) 463-1044
Email: bcalandra@pomlaw.com

Lee Squitieri
SQUITIERI & FEARON, LLP
305 Broadway, 7th Floor
New York, New York 10007
Telephone: (212) 421-6492
lee@sfclasslaw.com

Counsel For Defendants
Dan Gold
ALLEN OVERY SHEARMAN STERLING US LLP
The Link at Uptown
2601 Olive St., 17th Floor
Dallas, TX 75201
Telephone: 214-271-5821
Dan.Gold@shearman.com

If you have any questions about the Settlement, you may visit www.BlockFiSecuritiesSettlement.com or write to Lead Counsel at the above address or call Lead Counsel at the telephone numbers listed above.

PLEASE DO NOT CONTACT THE COURT OR THE CLERK’S OFFICE REGARDING THIS NOTICE.

Date: September 11, 2025

BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK

Source: Kroll Settlement Administration
Media Contact (press only): Sarah Shin, 310-291-9626

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Kroll Settlement Administration Announces a Proposed Class Action Settlement Has Been Reached in the BlockFi Securities Litigation

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