LegalJul 1, 2026, 11:27 AM
Greenpro Capital Settles Lawsuit for $100K and MFAI Shares
AI Summary
Greenpro Capital Corp. entered into a Confidential Settlement Agreement and Mutual Release of Claims with Millennium Fine Art Inc. (MFAI) on June 24, 2026. This agreement resolves a Nevada state court action and a JAMS arbitration related to an alleged 2021 NFT-related contract. As part of the settlement, Greenpro will pay MFAI $100,000 and surrender 2,000,000 restricted shares of MFAI Class B common stock for cancellation, representing its entire equity interest in MFAI.
Key Highlights
- Settlement agreement reached with Millennium Fine Art Inc. (MFAI) on June 24, 2026.
- Resolves Nevada state court action and JAMS arbitration related to an alleged 2021 NFT contract.
- Greenpro Capital to pay MFAI $100,000.
- Greenpro Capital to surrender 2,000,000 restricted shares of MFAI Class B common stock for cancellation.
- These shares represent Greenpro Capital's entire equity interest in MFAI.
- The surrendered shares represent approximately 5% of MFAI's issued shares and 1% of its total voting rights.
- Litigation and arbitration will be dismissed with prejudice upon settlement completion.
Price Impact
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