Athena Bitcoin proposes $4.5 million settlement, claimants may receive less than $3 million

Athena Bitcoin's proposed $4.5 million settlement over telemarketing texts will undergo final review in federal court on Aug. 10. Judge Mark E. Walker will assess the agreement, class counsel's proposed fee, and a representative award. The case alleges Athena sent multiple promotional texts to recipients more than 30 days after they requested to stop. Athena denies any wrongdoing. The federal class includes residential subscribers in the US from Aug. 20, 2020, to Aug. 20, 2024, excluding business numbers. A separate class covers qualifying Florida recipients under the Florida Telephone Solicitation Act. Both classes will share the $4.5 million settlement fund, pending final approval. Class counsel intends to seek 33% of the fund, or 1.48 million, plus costs not exceeding 30,000. If approved, nearly 3 million would remain for claimants before any representative award and costs for notifying class members. The final amount available for payments will depend on the number of valid claims. The settlement remains contingent on court approval.

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