Judge Dismisses LIBRA and M3M3 Class Action With Prejudice
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.
What this rests on
What it means
Each sentence links inside to the piece that supports it.
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.
Market reaction
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
How the story was built
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.
Has this happened before?
Nothing comparable yet.