The Winklevoss twins and Charlie Shrem settled $26M BTC lawsuit

18 Apr, 2019 | Updated: 18 Apr, 2019
by Fifi Arisandi
News
The Winklevoss twins and Charlie Shrem settled $26M BTC lawsuit

The Winklevoss twins and Charlie Shrem managed to reach settlement in a legal case involving both parties.

An update from the legal case involving Gemini founders, the Winklevoss twins and Charlie Shrem just emerged.

After the judge’s order to pay $45,000 to cover Shrem’s legal fees last February, the case is scheduled for an official trial by jury on April 8th.

However, a recent court filing dated April 5th stated that the case has been dismissed as both parties had managed to reach a settlement, as explained by Judge Jed Rakoff.

The case can still be reopened and brought back to the trial within 30 days or on May 5th at the latest if it is not fully effectuated.

Although the terms of the settlement are not disclosed and remained confidential, a separate filing by the Winklevoss Capital Fund (WCF) stated that “WCF and Shrem will each bear their own attorneys’ fees and costs. The case will not be reopened.”

Commenting on the final settlement, Shrem said, “From day one, I’ve maintained the allegations are bogus, and they are of course. After their attorney was sanctioned and they were ordered to pay my legal fees twice, we recently reached a confidential resolution, and I’m dismissed from the case. I’m thankful for Brian Klein and my legal team and pleased to have this behind me,” as quoted by Coindesk.

Dismissal of Winklevoss cas... by on Scribd

To those unfamiliar with the matter, on November last year, the Winklevoss twins filed a lawsuit against Shrem, accusing him of “stealing” 5,000 Bitcoin back in 2012.

“Either Shrem has been incredibly lucky and successful since leaving prison, or — more likely — he ‘acquired’ his six properties, two Maseratis, two powerboats and other holdings with the appreciated value of the 5,000 Bitcoin he stole from,” stated the lawsuit document.

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