Tether and Bitfinex Escape Class Action Lawsuits

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Last Updated on November 16, 2023 by Bitfinsider

According to a statement released by the stablecoin issuer, the class-action lawsuit launched against Tether and Bitfinex was settled once and for all after the plaintiff chose not to appeal a recent verdict. “Following the order of the U.S. District Court for the Southern District of New York denying Shawn Dolifka’s motion for leave to amend his meritless class action complaint filed against Tether and Bitfinex companies, Dolifka elected not to appeal the decision,” the company stated in a statement.

“The judge’s dismissal of the lawsuit and judgment in favor of the Tether and Bitfinex companies is now final in all respects.” In their case, Dolifka and another plaintiff Matthew Anderson claimed that Tether’s representations about its stablecoin, USDT, being backed one-to-one by the US dollar were untrue. In August, the court dismissed the lawsuit.

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