U.S. District Judge Roy Altman is set to determine the preliminary approval of a $340,000 settlement between Miami Heat star Jimmy Butler and YouTube influencer Ben Armstrong over allegations of securities fraud.
Butler and Armstrong, along with Binance, were accused of misleading investors into buying unregistered securities. They have denied wrongdoing while agreeing to settle the lawsuit.
The legal agreement comes after extensive negotiations via mediator Michael Hanzman and will be reviewed at a final hearing where affected investors can express their views.
This case follows a previous legal issue involving Binance itself, where the company and its co-founder Zhao settled for $4 million over anti-money laundering laws.
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