California judge dismisses class action lawsuit against Dfinity Foundation
A federal judge in California has dismissed a class-action lawsuit against the Dfinity Foundation, the developer of ICP. U.S. District Court Judge James Donato approved Dfinity's motion to dismiss, ruling that the case was "time-barred" due to exceeding the three-year statute of limitations under securities law.
The court supported Dfinity's argument that its first offering of ICP tokens to the public was in February 2017, so an investor lawsuit in August 2021 had exceeded the legal timeframe.
At that time, plaintiffs represented by Freedman Normand Friedland LLP (formerly Roche Freedman) did not respond to defendant's arguments. Therefore, Judge Donato wrote that dismissing these claims as "a matter of course" due to litigation timeout.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Funding Information Overview in the Past 24 Hours (April 17)
North Carolina Advances Bill HB 92 Allowing State Treasurer to Invest in Digital Assets
Ethereum Whales Sold 143,000 ETH Last Week
U.S. Judge Pauses Cryptocurrency Regulatory Lawsuit Against SEC by 18 States
Trending news
MoreCrypto prices
More








