U.S. Court Dismisses Libra Token Lawsuit
- A U.S. judge dismissed a class action lawsuit against Kelsier Ventures and the DeFi platform Meteora regarding the Libra token.
- Judge Jennifer L. Rochon ruled that Meteora, being software, cannot be sued, dismissing fraud and RICO claims.
- Over 44,000 investors affected by an insider dump of Libra tokens now lack legal recourse in the U.S.
- Argentine President Javier Milei promoted the token but denies liability for investor losses, likening it to gambling risks.
The dismissal of the class action lawsuit marks the end of legal claims in the U.S. regarding the Libra token promoted by Argentine President Javier Milei. The court’s decision underscores that software like Meteora cannot be sued under current laws, leaving affected investors without legal recourse in this jurisdiction.
This ruling highlights challenges in holding decentralized finance platforms accountable under existing legal frameworks, especially when significant investor losses are involved due to insider actions. (Source)
