Delaware’s Supreme Court reversed the dismissal by a lower court of BitGo’s $100 million lawsuit against Galaxy Digital over a failed $1.2 billion merger. The May 22 ruling found the language of the merger agreement to be “ambiguous,” allowing BitGo to pursue the case. BitGo alleges that Galaxy intentionally breached the acquisition agreement by terminating it in August 2022, citing BitGo’s failure to provide audited 2021 financials. The Chancery Court had dismissed the case in June 2023. Currently, Galaxy aims to pursue its defense and maintains confidence in its position.

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