Investment Opportunity
Finance a $700 million lawsuit against a $76 billion asset management firm.
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Calculate the Potential of Your Investment
Calculation is based on best estimate and for educational purposes only. Not a guarantee on return.
The Investment Opportunity
The plaintiff, SolidX Management LLC (“SolidX”), is seeking $700 million in damages from the defendant, VanEck Securities Corporation (“VanEck”).
In advance of an outcome in the case, SolidX is raising between $5 million and $7 million for litigation fees and general corporate purposes.
The Investment
This investment is within a class of investments often called Litigation Finance.
Litigation finance is an exclusive category usually reserved for ultra-high net worth individuals and institutional investors.
This opportunity provides you with the ability to participate in an investment class that is generally unavailable to the public.
The 23% Rate of Return
Background on the Lawsuit
SolidX had entered into a partnership with VanEck to launch the world’s first publicly traded Bitcoin ETF and related Bitcoin ETF-like shares for institutional investors.
SolidX alleges that VanEck breached the contracts between the parties, causing $700 million of damages. Immediately following the breach, VanEck filed for their own Bitcoin ETF.
The relationship between the parties and their progress was covered heavily in the press, including on the front page of the Wall Street Journal.
Summary of the Case Facts:
- The lawsuit is a breach of contract case between SolidX and VanEck filed in January 2021 in the Supreme Court of the State of New York.
- The case involves the world’s first publicly available exchange traded fund based on Bitcoin.
- SolidX is seeking $700 million in damages.
- VanEck tried to dismiss the case but the Court denied the attempt.
- The case is in the discovery phase of the litigation.
News
VanEck SolidX Bitcoin Trust Issues 144A Shares for Qualified Institutional Buyers
Frequently Asked Questions
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Litigation finance is when a third party provides capital to the plaintiff in a lawsuit and in return receives a portion of what the plaintiff recovers.
Regulation Crowdfunding, also known as Reg CF, is a regulatory framework that allows companies to offer and sell their securities to the public without having to register the securities with the SEC.
If after this testing the waters campaign concludes and SolidX decides to pursue an offering, it will likely be conducted under Regulation Crowdfunding.
You may visit the New York State Court system to learn more at https://iapps.courts.state.ny.us/nyscef/DocumentList?docketId=k7L4OkpzdjekpJ66OiWiSg==&display=all&courtType=New%20York%20County%20Supreme%20Court&resultsPageNum=1
1All returns are subject to a successful outcome, either as a result of settlement or award, in the litigation.
21 Year CD from https://www.bankrate.com/banking/cds/cd-rates/ visited on 8/4/23.
3Average Return: Stocks : https://www.investopedia.com/ask/answers/042415/what-average-annual-return-sp-500.asp visited on 8/4/23.
4High Yield Bonds: https://www.wsj.com/market-data/bonds/benchmarks for Triple-C rated visited on 8/4/23.
SolidX is testing the waters to evaluate investor interest. This is not a solicitation of any kind. This is not an offer to buy securities. No money or commitments are being accepted, and no sales are being made. An indication of interest does not create any obligation or commitment of any kind. If after this testing the waters campaign concludes and SolidX decides to pursue an offering, the offering will likely be conducted under Regulation Crowdfunding.
© 2023 SolidX Management LLC. All Rights Reserved.