Novogratz Firm Galaxy Wins Dismissal of BitGo Suit Over M&A Termination Fee
- Court rules Galaxy had ‘clean termination right’ to end deal
- Galaxy ended $1.2 billion acquisition of BitGo signed in 2021
Mike Novogratz
Photographer: Edwin Koo/BloombergThis article is for subscribers only.
Mike Novogratz’s Galaxy Digital Holdings has won the dismissal of a BitGo lawsuit over its abandoned $1.2 billion acquisition of the crypto custodian.
Galaxy had a “clean termination right” to end its acquisition of BitGo after the firm failed to deliver audited 2021 financial statements required by the merger agreement, according to a filing in the Delaware Chancery Court dated Friday.