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NY Court Dismisses M3M3-LIBRA Lawsuit Over Sufficiency Concerns

Guavy AI Editorial Team
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SOL
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A federal court in New York has dismissed a class-action lawsuit against Kelsier Ventures and others related to the launches of M3M3 and LIBRA tokens on the Solana blockchain.

The dismissal, handed down by Judge Jennifer L. Rochon on September 29, does not confirm whether any wrongdoing occurred during the token launches. The court found that several claims in the amended complaint did not meet the legal requirements needed to proceed with the case.

The plaintiffs had alleged fraud, conspiracy, and RICO Act violations connected to the two tokens. However, the dismissal was based on the sufficiency of the claims rather than a determination of whether the conduct actually took place.

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