legal matter

Judge Dismisses LIBRA and M3M3 Class Action With Prejudice

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A New York federal court dismissed the LIBRA and M3M3 class action, and the judge also denied another request to amend the complaint. One piece says the dismissal was without a merits ruling, while another says it was with prejudice.

Key claims & sources

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Judge Jennifer L. Rochon dismissed the LIBRA and M3M3 class action in New York federal court without reaching the merits.
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The judge rejected the plaintiffs’ request to amend the complaint again, pointing to problems with the organization and RICO claims.
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Another report says the same class action was dismissed with prejudice.
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The later report identified the case as the LIBRA and M3M3 class action.

What it means

Users and traders who followed the LIBRA and M3M3 case will notice that the lawsuit is no longer moving forward in its current form, and one report says the dismissal came without a merits ruling. That means the case status changed in court on the day of the order, not just in headlines.

Before this order, the plaintiffs had another chance to revise the complaint; after it, that request was denied and the case was treated as dismissed with prejudice in one report. What remains the same is that both pieces describe the same New York class action and the same defendants, LIBRA and M3M3. (per thedefiant.io)

Market reaction i

Total crypto marketall crypto assets combined no single asset in the event: read against the whole market
first headline
+0.7% 2 h before
-0.9% 4 h after
$2.9Tmarket cap at publication
13data points

Coverage timeline

Every piece in order, with the time its news medium declares — if it is not believable we use ours and say so — and what it added to what was already known at that point. Arriving first is not the same as adding something.

first
Oct 1 08:36
+1 d
Oct 2 08:38
crypto.news context
Its angle: racketeering, according, dismissed; with quotes