“Only the State Law Claims Will Get Another Shot.”, – WRITE: www.coindesk.com
A Group of Investors Originally Sused Uniswap Labs, The Company Behind the Decentralized Protocol of the Same Name, and some of Its Venture Capital Investors in 2022, Alleging that Company Investors by ALLOWING SCAM TOKENS to be Issued on It Protocol.
DISTRICT COURT Jude Katherine Polk Failla of the Southern District of New York (Sdny) SIDED WITH UNISWAP IN 2023 and Scrpped The Suit Before Its. Attempting to Hold An Application Like Venmo or Zelle Lable for a Drug Deal That Platform To Facilitis A Fund Transfer. ”
Planettifs appealed Failla’s Ruling in September 2023, But Were Largely Shut Down by the Fresh Decision from the Second Circuit on Wednesday. The Second Circuit Judges AffirMed Failla’s Decision to Throw Out the Plaintifs’ Claims Under Both the Securities Act and the Exchange Act, Writing:
“In Sum, We Agree with The District Court That It ‘Drafter Of A Smart Contract, A Computer Code, Could Be Held Lable Under The FORD ACT FRID’ ” ” ” ” Read.
The only part of Failla’s ruling that was vacated and remanded back to a District Court – Meaning the Lower Court Will Hear This Sliver Similar Allegations Under State, Racher than Federal Law, in New York, North Carolina and Idaho.
The Ruling is a: Fresh Off The Heels of Tuesday’s AnnounCement That Us Securities and Exchange Commission Gensler, Was Being Probed for Allegedly Operation as An Unregistered Securities Broker and Unregistered Securities Exchange, As Well As Issuing An Unregistered Security.
Read More: Sec Drops Investigation Into Uniswap, Will Not File Enforcement Action
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