Judge reverses own ‘mistaken’ dismissal of Overstock lawsuit
A United States federal judge has reversed his decision to dismiss a lawsuit alleging that Overstock manipulated its share market by distributing a security token in 2019. A Utah federal judge has reversed his own dismissal of a class-action lawsuit against online retailer Overstock that alleges it manipulated the market by issuing a security token “Digital Dividend” to shareholders last year.On Jan. 6, Judge Kimball reversed his previous decision to dismiss the lawsuit, granting the plaintiffs’ request from October to file an amended consolidated complaint. The class-action was filed by....
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The plaintiff may now file an amended complaint against Overstock and former CEO Patrick Byrne.
The lawsuit, accusing Overstock of market manipulation through its security token airdrop, has been turfed by a federal judge. A Utah federal judge has tossed out a lawsuit that accused Overstock ($OSTK) of market manipulation by distributing a ‘digital dividend’ of security tokens to shareholders and repeatedly revising retail earnings guidance upward to punish short-sellers.U.S. district judge Dale Kimball granted two motions to dismiss the suit on September 28, finding that the digital dividend did not manipulate the market, and that the revised earnings statements were protected by the....
A lawsuit against Binance accusing the cryptocurrency exchange of selling unregistered crypto securities has been dismissed. The plaintiffs listed nine cryptocurrencies in the lawsuit.
Binance’s Lawsuit Dismissed
U.S. District Judge Andrew Carter dismissed a lawsuit against cryptocurrency exchange Binance Thursday.
The motion to dismiss was filed by Binance and CEO Changpeng Zhao (CZ). The lawsuit (case no. 20-02803) was originally filed in April 2020 in the U.S. district court in the Southern District of New York.
Binance is accused of violating....
A federal judge dismissed a lawsuit in late March that sought clarity on whether publishing a crypto-based crowdfunding tool counted as money transmission — and that dismissal is now at the center of a debate over whether recent statements from the Justice Department mean anything in practice. Related Reading: Bitcoin ETF Inflows Hit Over $820 […]
Judge Analisa Torres is again being asked to reopen her own final judgment in the XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC). Yet in the corridors of crypto law the real debate is not procedural, but psychological: will the judge indulge the parties’ second-try joint motion, or will she […]