S.D.N.Y. · No. 1:26-cv-08321
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| Matter | Type | Practice area | Court | Date | Value |
|---|---|---|---|---|---|
| SMX (Security Matters) Public Limited Companysource ↗ filed by Harris St. Laurent LLP · No. 1:26-cv-08321 · 28:1332fr Diversity-Fraud · view case timeline → Comparable settlements $200M–$740M ▾Only Guthrie (UCL fraud claims, cert denied) and Citizens of Humanity ('Made in USA' labeling, dismissed) are true false-advertising analogs, both unfavorable to plaintiffs; the rest of the comparables are off-theory and add little predictive weight. Comparable settlements $200M–$740M median $274.75M · n=10 DiDi Global Inc. $740M · Merck & Co. Inc. a $688M · Toyota Industries $436M Per member (realized): ~$2,500 median · $2,500–$2,500 (n=1) Comparable verdict: Papaya $420M · Vital Pharmaceutical $293M Key precedent: Guthrie v. Transamerica - courts often deny certification of advertising-fraud claims requiring individualized reliance inquiry, a risk SMX's varied customer base shares. Main risk: Individualized reliance/causation issues (Guthrie) could defeat class certification even if the complaint survives dismissal. Rough EV model (wide — class size is the big unknown, not a prediction): $88K–$4.38M Extremely thin comparable set for false advertising specifically; defendant is a micro-cap with no prior litigation history, making class size and recovery highly speculative. · grounded in 10 rulings, 10 settlements, 9 verdicts | Filing | False Advertising | S.D.N.Y. | 2026-09-23 | $200M–$740M comparable settlements |