Scott+Scott Attorneys at Law LLP Announces Preliminary Approval of Class Action Settlements in SafeMoon Class Action Litigation

NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP, as Lead Counsel for investors in the SafeMoon securities class action, announced a proposed $12 million settlement resolving claims against Debtor Defendant SafeMoon US, LLC. The settlement follows mediation before Chief Magistrate Judge Dustin B. Pead of the District of Utah, capping litigation that began in February 2022. That litigation included related criminal charges against former SafeMoon CEO Braden John Karony, who was convicted in May 2025 of securities fraud, wire fraud, and money laundering conspiracy, as well as a parallel SEC enforcement action. The settlement was reached in coordination with the Chapter 7 bankruptcy trustee following SafeMoon’s December 2023 bankruptcy filing, and it will provide an estimated $10 million net recovery to Class Members. Eligible Class Members are investors who purchased, or were solicited to purchase, SFM Tokens directly from SafeMoon between March 8, 2021, and November 1, 2023. Recovery will be distributed on a pro rata basis according to a FIFO-calculated loss formula. Class Members who wish to exclude themselves from or object to the settlement, the fee request, or both, must submit their request in writing no later than October 1, 2026. Please visit www.SafeMoonSettlement.com to submit a claim and visit this webpage for additional information.