Fir Tree Capital Management and crypto asset manager Grayscale Investments have reached an agreement to resolve a lawsuit filed by Fir Tree against Grayscale last year.
In December, Fir Tree Capital Management sued Grayscale, seeking information to investigate potential mismanagement and conflicts of interest, according to Delaware court documents.
Under the agreement announced Tuesday, Grayscale will provide documentation on the company’s flagship product, GBTC.
The product is designed to provide exposure to BTC -0.57%-value/">bitcoin in the form of securities that typically trade at a premium or discount to net asset value.
Fir Tree’s original complaint said Grayscale investors had been harmed by “shareholder-unfriendly conduct”. It also called on the company to allow GBTC to be redeemed.
Grayscale should make a tender offer for GBTC’s shares, the company said. Grayscale needs shareholder approval for such an offering.