GAW Miners, ZenMiner cryptocurrency $3.5M class action settlement

Update:

• The court granted this settlement final approval June 30, 2023.

• Let Top Class Actions know when you receive a check in the comments section below or on our Settlements & Payouts Facebook group.

GAW Miners and ZenMiner agreed to a $3.5 million settlement to resolve a class action lawsuit claiming they misled investors about profits from their crypto mining operations. 

The settlement benefits individuals who purchased Hashlets, Hashpoints, HashStakers or Paycoin from GAW Miners LLC and/or ZenMiner LLC or who acquired the cryptocurrency by converting, upgrading or exchanging other products from GAW Miners LLC and/or ZenMiner LLC between Aug. 1, 2014, and Jan. 19, 2015.

According to the class action lawsuit, GAW Miners and ZenMiner claimed their cryptocurrency mining operations would yield significant profits for investors. In reality, investors allegedly received far smaller returns than they were owed. 

GAW Miners and ZenMiner are cryptocurrency mining companies. The companies’ founder, Homero Joshua Garza, was sent to prison for his role in an alleged cryptocurrency Ponzi scheme.

The cryptocurrency companies haven’t admitted any wrongdoing but agreed to a $3.5 million class action settlement to resolve these allegations. 

Under the terms of the GAW Miners and ZenMiner settlement, class members can receive a proportional share of the net settlement fund based on the amount they paid for Hashlets, Hashpoints, HashStakers or Paycoin. Payments may be reduced based on any value received from selling these products. No payment estimates are available.

The deadline for objection is May 25, 2023. The exclusion deadline passed when the court certified the class action lawsuit.

The final approval hearing for the GAW Miners and ZenMiner crypto class action lawsuit settlement is scheduled for June 30, 2023.

To receive settlement benefits, class members must submit a valid claim form by July 14, 2023.

Who’s Eligible

Individuals who purchased Hashlets, Hashpoints, HashStakers or Paycoin from GAW Miners LLC and/or ZenMiner LLC or who acquired the cryptocurrency by converting, upgrading or exchanging other products from GAW Miners LLC and/or ZenMiner LLC between Aug. 1, 2014, and Jan. 19, 2015.

Potential Award

Varies

Proof of Purchase

N/A

Claim Form

NOTE: If you do not qualify for this settlement do NOT file a claim.

Remember: you are submitting your claim under penalty of perjury. You are also harming other eligible Class Members by submitting a fraudulent claim. If you’re unsure if you qualify, please read the FAQ section of the Settlement Administrator’s website to ensure you meet all standards (Top Class Actions is not a Settlement Administrator). If you don’t qualify for this settlement, check out our database of other open class action settlements you may be eligible for.

Claim Form Deadline

07/14/2023

Case Name

Audet, et al. v. Fraser, et al., Case No. 3:16- cv-00940, in the U.S. District Court for the District of Connecticut.

Final Hearing

06/30/2023

Settlement Website

GAWMinersClassAction.com

Claims Administrator

Audet et al. v. Fraser et al.
c/o Epiq
P.O. Box 3578
Portland, OR 97208-3578
info@GAWMinersClassAction.com
855-964-0522

Class Counsel

Jacob Buchdahl
Seth Ard
Geng Chen
Russell Rennie
SUSMAN GODFREY LLP

Defense Counsel

Daniel H Weiner
Marc A Weinstein
Amina Hassan
HUGHES HUBBARD & REED LLP