On September 10, a federal judge in Texas dismissed a securities class action against the operator of the Decentralized Finance project Bancorprotocol. Judge Robert Pitman agreed with the judge’s opinion, ruling that the plaintiffs failed to prove that US courts have jurisdiction over foreign defendants.
The ruling indicates that Bancor’s foreign operations are not subject to U.S. securities laws, and the plaintiff cannot sue Bancor in the United States for suspending investment protection. The judge also pointed out that Bancor and its founders do not have sufficient contacts with the United States, and suggested that the plaintiff could file a lawsuit in Israeli courts.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.