According to the Complaint, Voyager Digital Holdings Inc. has offered and sold Voyager Earn Accounts to retail investors, through which those investors lent crypto assets to Voyager in exchange for Voyager’s promise to provide a variable monthly interest payment. Voyager generated the interest paid out to Earn Account investors by deploying their and its assets in various ways, including loans of crypto assets made to institutional and corporate borrowers, lending U.S. dollars and stablecoins to retail investors, and by investing in other highly speculative cryptocurrency ventures. Voyager also pooled these cryptocurrencies together to fund its lending operations and proprietary trading.

The Complaint alleges that the Defendants unlawfully offered and sold Voyager Earn Accounts and VGX securities during the Class Period and that Plaintiffs and members of the Classes and Subclass suffered damages in connection with their respective purchases of Voyager Earn Account securities.

On April 19, 2023, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated Complaint on May 26. On September 15, Lead Plaintiffs filed an amended consolidated Complaint.

On April 3, 2024, the parties entered into a Stipulation and Agreement of Settlement. Lead Plaintiffs voluntarily dismissed the remaining twelve individual Defendants on April 16. On July 2, the Court granted preliminary approval of the Settlement.