Regulation· ★★· neutral·

New York court dismisses class action over LIBRA and M3M3 token launches

  • —SDNY dismissed the class action against Hayden Davis, Kelsier Ventures and Ben Chow
  • —Judge denied leave to amend, ruling Meteora is not a suable unincorporated association
  • —RICO and fraud claims against Chow failed to meet legal requirements
  • —Ruling makes no factual finding on manipulation in the LIBRA and M3M3 launches
Why it matters: The ruling narrows class-action exposure for memecoin launch organizers, though questions over actual LIBRA manipulation remain unresolved.
Source: PANews
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