The EOS Network Foundation (ENF) has strongly urged claimants to reject the offered $22-million settlement with Block.one. This comes just a few weeks after initiating a new class action. As the deadline approaches for opting out of the existing $22-million agreement with Block.one (B1), the EOS Network Foundation (ENF) on Twitter has urged claimants to withdraw from the ongoing lawsuit.
On August 8th, ENF strongly urged claimants to decline the $22-million settlement from Block.one. Block.one introduced EOS via a substantial $4-billion ICO in 2018.
ENF Raises Concerns Over Settlement Impacting EOS Foundation
ENF suggests that the current settlement doesn’t adequately compensate community members for the losses caused by Block.one’s deceitful actions. The foundation highlights that the settlement is considerably smaller than Block.one’s substantial funds. Additionally, the promised $1 billion investment in the EOS network and its community was not fulfilled as promised.
“The sum of $22 million is small and inconsequential, a minor price that Block.one must pay to avoid facing consequences for their wrongdoings,” declares the official statement.
Furthermore, the settlement forbids class action participants from filing new complaints against Block.one and its creators in the future. ENF highlights this, emphasizing that the foundation is drawing attention to it. The foundation emphasizes, saying:
“The ENF urges community members to opt out of the settlement which will send a strong message to Block.one and to the court that the settlement is entirely inadequate and does not adequately compensate community members.”
Following the foundation’s guidelines, the deadline to withdraw from the class action is set for August 29th. ENF cautions that failing to withdraw by this date might inadvertently involve you in the class action, resulting in the loss of your future ability to take legal action against Block.one.
These recent messages from ENF have emerged after the formal announcement in late July. The announcement detailed the foundation’s upcoming initiation of legal action against B1.
ENF’s founder and CEO, Yves La Rose, told Cointelegraph that this legal action could potentially boost claimants’ compensation. La Rose explains, “Guaranteed results are rare, highlighting the importance of each claimant making an independent decision.” He emphasizes that the foundation strongly recommends all individuals consult their personal legal advisors to make an informed choice that aligns with their best interests.
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