COSTA MESA, Calif., Feb. 9, 2026 /PRNewswire/ -- The following statement is being issued by Simpluris, Inc., court-appointed settlement administrator, regarding the GYEN class action Settlement.
A proposed settlement has been reached with GMO-Z.com Trust Company ("Defendant" or "GMO Trust") in a class action lawsuit. The lawsuit alleges that GMO Trust violated New York and California law by failing to provide accurate disclosure concerning the stability of GYEN during the Settlement Class Period.
Defendant denies that it did anything wrong, and the Court has not decided who is right. The parties agreed to settle the lawsuit to avoid the risks, disruption, and uncertainties of continued litigation.
This press release is a supplement to, and does not replace, the Court-approved Long Form Notice. A copy of the proposed Settlement Agreement, the Long Form Notice, and other important information is available at www.GYENSettlement.com.
Settlement Class
The proposed Settlement Class consists of persons and entities that purchased or acquired GYEN in New York or California at a time when it was unpegged from the Japanese Yen between December 29, 2020 and October 10, 2025. Further, details about the Settlement Class definition can be found at www.GYENSettlement.com.
The Court has appointed experienced attorneys, known as Class Counsel, to represent the Settlement Class.
Settlement Benefits
If the Court approves the Settlement, Defendant will create a $6,750,000 Settlement Fund. Certain deductions, including attorneys' fees, litigation expenses, and the costs of notice and administration, will be paid from the Settlement Fund. The remaining money will be distributed among members of the Settlement Class Members in accordance with a plan of allocation approved by the Court.
Claims Process
To seek a payment, a claim must be submitted through the Settlement Website or submitted by U.S. mail using the Claim Form that is available for download at www.GYENSettlement.com, along with the required supporting documentation.
Claimants should be prepared to use the wallet connector included in the claim submission process to verify ownership or control of the wallet or account associated with the relevant GYEN transactions.
Paper Claim Forms may also be requested by emailing info@GYENSettlement.com or downloaded from the Settlement Website. Completed claims must be submitted online, mailed and postmarked, or emailed by June 5, 2026.
Exclusions and Objections
Requests for exclusion from the Settlement must be received by April 30, 2026. Persons or entities that exclude themselves will not be bound by the Settlement and will not be eligible to receive benefits.
Objections to the Settlement must be filed with the Court and served on counsel for the Settling Parties by April 30, 2026. You cannot object to any aspect of the Settlement if you exclude yourself from the Settlement Class.
Instructions for requesting exclusion or objecting to the Settlement are detailed in the Long Form Notice, which is available on the Settlement Website, www.GYENSettlement.com.
Final Approval Hearing
The Court will hold a hearing in this case at 2:00 p.m. on May 27, 2026, in Courtroom 11C of the Daniel Patrick Moynihan United States Courthouse, 500 Pearl Street, New York, NY 10007, to consider whether to approve the Settlement and plan of allocation. At that time, the Court will also consider Class Counsel's request for attorneys' fees, reimbursement of litigation expenses, and service awards for the named plaintiffs. Attendance at the hearing is not required.
This notice is a summary only and does not replace the Court-approved Long Form Notice. Additional information is available by calling 833-647-9041, emailing info@GYENSettlement.com, or visiting www.GYENSettlement.com.
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