Plaintiff brings this lawsuit against the Defendant on behalf of purchasers of ASTRALs non-fungible tokens (NFTs). The Complaint alleges that the Defendant violated provisions of the Securities Act when he and his son founded a company called ASTRALS, which offered and sold NFTs to investors nationwide and across the globe. The lawsuit alleges that the NFTs were unregistered securities and that Defendant participated in ASTRALS' failure to register the NFTs, as well as their offer and sale to the investors, who are entitled to a refund of their investments into the NFTs.

Plaintiff filed an amended Complaint on September 7, 2023. On September 13, the Court issued an Order appointing Lead Plaintiff and Counsel. Defendants filed a Motion to Dismiss the amended Complaint on September 29.

On August 16, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

On November 7, 2024, the parties agreed to the principal terms of a Settlement and on November 18, the parties signed a Settlement Agreement.