BitMEX racketeering complaint dismissed over lengthy ‘copy and paste’ claims
Plaintiffs accusing BitMEX of market manipulation and racketeering violations will not be able to file their complaint again after being shot down by Judge William Orrick for the second time. A U.S. District Judge has dismissed amended racketeering allegations brought by traders against the parent company of derivatives exchange BitMEX, HDR Global trading, noting that many of the plaintiff’s accusations had been copy and pasted from a different lawsuit filed against the platform.On Sept. 7, Judge William Orrick dismissed the plaintiff’s claims that BitMEX had engaged in market....
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The judge urged the plaintiffs to “focus on the task at hand — convincing me that they have stated a plausible claim.” The California District Judge overseeing a racketeering suit filed against crypto derivatives exchange BitMEX, William H. Orrick, has rebuffed the plaintiffs’ motion offering to provide them with a tutorial on “cryptocurrency basics.”According to a July 13 report from Law360, the judge responded to Bitcoin Manipulation Abatement LLC (BMA)’s proposal with a one-page order on Tuesday, outlining the offer was “not well taken.”“Plaintiffs believe that cryptocurrency tutorial....
The Federal Trade Commission (FTC) has caused Kansas-based Butterfly Labs (BFL) more than a few problems as of late. Having previously succeeded in halting the BFL's operations, the FTC wants justice for the consumers they represent who claim to have received products extremely late and not as described. Butterfly Labs, on the other hand, just wants to be the entire situation behind themselves and continue their business of manufacturing cryptocurrency mining hardware. In fact, the company is looking to have the FTC's complaint dismissed, according to a lengthy statement released today....
The court accepted the Plaintiffs’ requests to provide “undoubtedly important” documents in the alleged fraud case. The judge for the United States District Court for the Southern District of New York, Katherine Polk Failla, ordered Tether to prove 1-to-1 backing of its eponymous stablecoin, Tether (USDT). The company is required to provide “general ledgers, balance sheets, income statements, cash-flow statements, and profit and loss statements” and other documents to the court. The order was published on Tuesday as a part of a case that started back in 2019 — the initial complaint by a....
A U.S. court in Miami has dismissed an amended complaint in the lawsuit that accused nine defendants including Kraken founder Jesse Powell, Bitcoin.com founder Roger Ver, Bitmain’s Jihan Wu, and a few open-source Bitcoin Cash developers of collusion. U.S. Magistrate Judge Chris McAliley dismissed the amended complaint under Federal Rule of Civil Procedure on March 31, 2021. Cased Dismissed Back in 2018, after the Bitcoin Cash (BCH) and Bitcoinsv (BSV) network split, a Florida-based blockchain company called United American Corp – “Unitedcorp (UAC)” attempted to sue....
"Litigation will expose this case for what it is: a clumsy attempt at a money grab, which recklessly harms the whole cryptocurrency ecosystem," said Tether. The judge in the class-action lawsuit filed in the Southern District of New York against stablecoin issuer Tether and crypto exchange Bitfinex has granted motions to dismiss many of the claims in the case.According to court documents filed Sept. 28 in the Southern District of New York, District Judge Katherine Polk Failla has granted motions from Tether’s and Bitfinex’s parent company iFinex to dismiss key claims in the plaintiffs’....