A judge has dismissed about half of the claims in a class-action lawsuit that alleged Bitfinex, Bittrex, Poloniex, Tether and others manipulated cryptocurrency markets. The lawsuit was filed by a group of traders and trading firms in June 2020, alleging the firms used USDT to manipulate crypto markets.
The lawsuit sought “reasonable costs of suit, pre- and post-judgment interest, and reasonable attorneys’ fees” and a trial by jury. In a new order, Judge Katherine Polk Failla dismissed claims under the Racketeer Influenced and Corrupt Organizations Act, or RICO Act, which is aimed against organized crime.
The exchanges are still facing several claims, as Failla decided the traders adequately alleged possible market manipulation, which serves as the catalyst for further monopoly claims.
The defendants must now file answers to the amended complaint by October 28. Both plaintiffs and defendants must file a joint status letter with a case management proposal by November 18.
Source: https://www.cryptocompare.com/email-updates/daily/2021/oct/01/
