$4.5 Million Athena Bitcoin Settlement May Leave Claimants with $2.9M

Athena Bitcoin, a company that operates crypto ATMs across the US, has agreed to a $4.5 million settlement in a federal class action lawsuit over alleged telemarketing text messages.

The lawsuit claimed Athena sent promotional texts to recipients who had previously opted out by sending a 'STOP' message. Athena denies any wrongdoing or violation of the law.

The settlement, which will be reviewed by Judge Mark E. Walker on August 10, would establish a fund for eligible claimants. However, class counsel has proposed seeking 33% of the fund, or $1.48 million, in fees and expenses.

If approved, this would leave around $2.985 million for claimants after fees and expenses are deducted. Each claimant's payment will depend on the number of timely, valid claims received, as well as any other deductions that may be made.