DigitalX Ltd (ASX:DCC) has advised it has been served with an Originating Application and Statement of Claim in the Federal Court of Australia.
The claim for a combined amount of approximately US$1,833,077 plus damages has been filed by a group of parties relating to an investment they made in an initial coin offering to which DigitalX was an advisor.
In an ASX statement the company has denied any wrong doing.
“While the Company and its legal advisors continue to review and examine the claims made, the Company denies any claim of wrongdoing and, for reasons that will become apparent as this matter progresses, believes that it has strong grounds to defend any claims bought forward by these applicants.
“As such, the Company intends to vigorously defend this matter and protect the reputation of the Company.”
DigitalX shares traded 4% lower on the news.