U.S. Court Dismisses Class Action Lawsuit Against LIBRA and M3M3 Parties, Denies Plaintiffs' Request to Amend Complaint Again

Techub News reported that Judge Jennifer L. Rochon of the United States District Court for the Southern District of New York dismissed a class action lawsuit against Hayden Davis, Kelsier Ventures, former Meteora CEO Ben Chow, and others related to the issuance of tokens LIBRA and M3M3, and denied the plaintiffs the opportunity to amend their complaint again. The court found that the plaintiffs failed to adequately prove that Meteora constituted an unincorporated association that could be sued, and the RICO charges against the related defendants also failed to meet the legal requirements such as continuous criminal activity. The fraud charges against Chow similarly did not meet the corresponding evidentiary standards. The court did not make any factual determination regarding whether market manipulation or fraud actually occurred during the token issuance process. (WuBlockchain)