Tether, the top issuer of stablecoins worldwide, didn’t get hurt in a lawsuit that was filed against it. There’s no significant harm or damage for Tether from the legal action.
In a big win for cryptocurrency companies Tether and Bitfinex, they won a lawsuit where a person named Shawn Dolifka accused Tether of not being truthful about its reserves. But the US District Court for the Southern District of New York said no to this lawsuit, meaning the companies successfully defended themselves in court.
Legal Victory for Tether and Bitfinex: Lawsuit Dismissed
Chief Judge Laura Taylor Swain said no to Dolifka’s request to change her complaint against Tether and Bitfinex. After this decision, Dolifka decided not to appeal, making the judge’s choice in favor of Tether and Bitfinex final.
The companies, Tether and Bitfinex, shared an official statement about the outcome. They called Dolifka’s decision to file a lawsuit “imprudent” but were glad she chose not to appeal. According to the companies, Dolifka’s claims had no basis, and more legal action wouldn’t benefit him or his lawyers.
Tether and Bitfinex concluded their statement with a strong message, “Now and in the future, just like we’ve said before, Tether and Bitfinex won’t be taken advantage of by baseless lawsuits aiming for money.”
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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