In re Bit Digital, Inc. Securities Litigation — Entry #82: ORDER APPROVING PLAN OF ALLOCATION granting (71) Motion for Settlement in case 1:21-cv-00515-ALC

Case 1:21-cv-00515-ALC Document 82 Filed 03/07/23 Page 1 of 3


 UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

IN RE: BIT DIGITAL, INC.                                                   3/7/2023
SECURITIES LITIGATION
                                            Lead Case No. 1:21-cv-00515-ALC
           This document relates to:

           All Actions


                 ORDER APPROVING PLAN OF ALLOCATION


                                              BLOCK & LEVITON LLP
                                              Jeffrey C. Block
                                              Jacob A. Walker, pro hac vice
                                              Sarah E. Delaney
                                              260 Franklin Street, Suite 1860
                                              Boston, MA 02110
                                              (617) 398-5600
                                              jeff@blockleviton.com
                                              jake@blockleviton.com
                                              sarah@blockleviton.com

                                              Attorneys for Lead Plaintiff and the
                                              Class


            Case 1:21-cv-00515-ALC Document 82 Filed 03/07/23 Page 2 of 3


       This matter having come before the Court on February 3, 2023, on Lead Plaintiff’s motion

for approval of the Plan of Allocation of the Settlement proceeds in the above-captioned action;

the Court having considered all proceedings and papers filed herein and otherwise being fully

informed in the premises;

       IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that:

       1.       This Order incorporates by reference the definitions in the Stipulation of Class

Action Settlement dated October 12, 2022 (ECF No. 68-1) (“Stipulation”), and all capitalized

terms used, but not defined herein, shall have the same meanings as set forth in the Stipulation.

       2.       Pursuant to and in full compliance with Rule 23 of the Federal Rules of Civil

Procedure, this Court hereby finds and concludes that due and adequate notice was directed to all

persons who are Class Members who could be identified with reasonable effort, advising them of

the Plan of Allocation and of their right to object thereto, and a full and fair opportunity was

accorded to all persons and entities who are Class Members to be heard with respect to the Plan of

Allocation.

       3.       The Court finds and concludes that the formula for the calculation of the claims of

Authorized Claimants which is set forth in the Notice sent to Class Members provides a fair and

reasonable basis upon which to allocate the proceeds of the Net Settlement Fund established by

the Stipulation among the Class Members, with due consideration having been given to

administrative convenience and necessity.

       4.       The Court finds and concludes that the Plan of Allocation, as set forth in the Notice,

is, in all respects, fair and reasonable and the Court approves the Plan of Allocation.

       SO ORDERED.


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        Case 1:21-cv-00515-ALC Document 82 Filed 03/07/23 Page 3 of 3


DATED: March 7, 2023


                                      Honorable Andrew L. Carter, Jr.
                                      United States District Judge


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