According to CoinGecko, the price of the EOS coin has increased by 19.1% in the past day and the asset is trading at $1.53. The price increase came after the lawsuit decision against Block.one.

In the past seven days, the coin’s prices have increased by more than 29%. Bitcoin rose 1.1% during this period, and on the eve of the most important update, The Merge, the Ethereum price increased by 8%.

In May 2020, investors filed a class action lawsuit against Block.one, the company that first launched the EOS network. They claimed that the project’s $4.2 billion ICO was a sale of securities.

In June 2021, Block.one agreed to settle the dispute with a $27.5 million payment.

On August 15, Judge Lewis Kaplan of the Southern District of New York denied ratification of the settlement. According to The Block, it decided that the lead plaintiff of the Crypto Assets Opportunity Fund did not adequately represent the interests of all investors.

In December 2021, the EOS community decided to end Block.one’s regular payments, stating that it no longer acts in the interests of the network.

In February 2022, the nonprofit EOS Network Foundation announced its intention to reclaim $4.1 billion from the company.

Recall that earlier Integra analysts found signs of manipulation during the EOS ICO.

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