The Ontario Superior Court of Justice has granted leave pursuant to section 138.8 of the Ontario Securities Act to commence a secondary market misrepresentation claim against Galaxy Digital Holdings Ltd. (the predecessor company to Galaxy Digital Inc.) (Nasdaq: GLXY, formerly TSX: GLXY), Michael Novogratz, and Alex Ioffe. The Court also certified the action as a class proceeding.

The action alleges secondary market misrepresentations relating to, among other things, the company’s involvement with the Terra blockchain and its associated digital assets. The class includes all persons who purchased Galaxy Digital’s stock during the class period of May 17, 2021, to and including May 6, 2022.

This news release is being issued in compliance with section 138.9 of the Ontario Securities Act. A separate Court-approved notice of certification, including opt-out information, will be issued upon further order of the Court.

SMK Law has been appointed as class counsel. A copy of the decision is available here. Updates on the case are provided here.

About SMK Law P.C.

SMK Law P.C. is a Canadian investor rights law firm representing institutional and individual investors. The firm is led by Soheil Karkhanechi who has decades of leadership experience in the securities and asset management industries in Canada and the US.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260830651109/en/