Potential Class Action Settlement for GYEN Investors in New York and California

Class Action Settlement for GYEN Investors

If you purchased the cryptocurrency GYEN in New York or California while it was unpegged from the Japanese Yen and have incurred losses, you may be entitled to compensation through a class action settlement.

Overview of the Settlement

Recently, a proposed settlement was reached in a class action lawsuit involving GMO-Z.com Trust Company, also known as GMO Trust. The lawsuit claims that the firm failed to provide accurate disclosures regarding the stability of GYEN during the period in question. Although GMO Trust denies any wrongdoing, the agreement was made to eliminate the uncertainties tied to ongoing litigation.

The court has appointed Simpluris, Inc. as the settlement administrator to oversee the process and ensure that investors receive their rightful compensation if eligible.

Who is Affected?

The settlement applies to individuals or entities that purchased GYEN in New York or California between December 29, 2020, and October 10, 2025, specifically when the currency was not pegged to the Yen. You may be eligible for a portion of a $6,750,000 settlement fund created specifically for this purpose. However, deductions will be made for attorneys' fees and administrative costs before distribution.

How to File a Claim

To receive compensation, affected parties must submit a claim. This can be done online at the designated settlement website, or by mailing a claim form that can be downloaded from the same site. You will need to provide supporting documentation to prove ownership or control of the GYEN wallets or accounts linked to the transactions in question.

For those who prefer paper forms, they can request one via email or download it directly from the settlement website. All claims must be completed and submitted by June 5, 2026.

Exclusions and Objections

Anyone looking to opt-out of this settlement must do so by April 30, 2026, after which they will not be eligible to receive any benefits, nor will they be bound by the settlement terms. Likewise, objections to the settlement must be submitted to the court and shared with the involved parties by the same deadline. If you do decide to exclude yourself from the class, you cannot subsequently object to the settlement's terms.

Full instructions regarding exclusions and objections are available on the long-form notice found on the settlement website.

Upcoming Court Hearing

A hearing to review and approve the settlement is scheduled for May 27, 2026, at 2:00 PM at the Daniel Patrick Moynihan United States Courthouse in New York City. This session will address not just whether the settlement and allocation plan will go ahead, but also the request for fees and expenses for the class counsel.

Attendance at this hearing is not compulsory but could be beneficial for concerned parties.

Important Contacts

For any inquiries or additional details about the settlement process, you can reach out to the hotline at 833-647-9041 or visit the settlement website at www.GYENSettlement.com. You can also email [email protected] for assistance. Keep connected to ensure that you have all the necessary information to claim what is rightfully yours.