Judge Refuses to Merge Class Action Lawsuits against Bankruptcy Cryptocurrency Exchange FTX
It is reported that the United States District Judge Jacqueline Scott Corley rejected the plaintiff\’s request to merge five proposed class actions against the B
It is reported that the United States District Judge Jacqueline Scott Corley rejected the plaintiff’s request to merge five proposed class actions against the Bankruptcy Cryptographic Exchange FTX. The judge pointed out that FTX and other defendants had not had the opportunity to express their opinions on this issue.
The United States District Judge refused to merge the five proposed class actions against FTX
Analysis based on this information:
The recent news article reports the United States District Judge, Jacqueline Scott Corley, refused to combine five class action lawsuits against the Bankruptcy Cryptographic Exchange FTX.This decision was made as the judge pointed out that FTX and other defendants had not had the chance to express their opinions on this matter.
The lawsuits were brought on behalf of investors who had cryptocurrency holdings at FTXduring a period in December 2018 when the exchange supposedly experienced technical issues, and they were unable to access their funds. The plaintiffs alleged that a tracker created by FTX that followed the price of BTC was faulty, and this caused users to incur financial losses.
The exchange faced a lawsuit in June 2019,which sought class-action status for its losses. The new plaintiffs targeted the exchange over its alleged failure to take immediate action upon the technical issue being identified.
However, the District Judge’s decision is understandable since the defendants have the right to express their opinion and defend their interests before the judge issues a ruling on this case. Therefore Justice Corley requested that each case’s plaintiff should refile a formal complaint as a single lawsuit so that the defendants could respond to the allegations.
Some legal experts stated that the judge’s decision to decline the consolidation of the five lawsuits is a wise decision because this would mean that the exchange would have to defend multiple charges in multiple jurisdictions, requiring lawyers and court dates. This would be both expensive and time-consuming.
In conclusion, this action by the United States District Judge Jacqueline Scott Corley to deny the consolidation of the five lawsuitsis an excellent example of how the legal system operates to protect the rights and interests of all parties involved. The legal action taken by the plaintiffs due to financial losses suffered was appropriately addressed by Justice Corley, who most importantly has ensured a fair and just trial for both plaintiffs and defendants.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/8720.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
What does it mean to add ‘down’ after the currency in the coin circle (what does’m ‘in the coin circle mean)
What does it mean to add down after a coin circle currency A simple understanding is: when a specific market appears, halve it first. This process is achieved through the addition or reduction of computing power through block rewards. This model is called “add up”, which means that if a currency rises, new coins will be dug out, and this newly issued coins will gradually enter the market for circulation and trading, which is conducive to attracting investors to participate and thereby increasing the overall capital inflow So this operation is a type of “adding profit to the front of the coin circle currency”, which means dividing the Bitcoin already held into two batches and adding them to the coin circle to increase their market share. This can allow more people to see the variety they invest in What does m mean in the coin circleAccording to Coindesk, in recent months, the price of Bitcoin has continued to rise.. Some…
-
How to pronounce “weth” (How to pronounce “wet” in English)
How to pronounce \”weth\” Original Author: WethThe Ethereum Protocol is a decentra
-
Trader Joe Launches Liquidity Book V2.1 Upgrade
According to reports, Blue, the marketing director of the Decentralized Cryptocurrency Exchange (DEX) Trader Joe, said on Friday that an upgraded trading engine, Liquidity Book V2.
-
What exactly is yop coin (on which exchange is yoo coin)
<img src='https://img.doulai.com/pic/enpic.php?k=What is Yop Coin? Imgalt=What is Yop Coin? {images} Editor’s note: This article is from BlockBeats (ID: blockbeats), which is reproduced by the Daily Planet with authorization What is Yop coin and is it a protocol token? Is it a one-stop solution in the DeFi field? Or products released by project parties such as Uniswap and Balancer? The answer is yup coins At present, YUP Coin has been launched on multiple exchanges and has generated many users. However, in the recent period, the price of yOp has been continuously declining, indicating that many people in the market believe that this price will continue to fall. Moreover, due to the strong differentiation between YUP coin and other projects, people’s views on it have also changed The core technology behind yop coin is also developed and operated based on a smart contract platform built by Ethereum network. Therefore, from a design perspective, yup coin is a completely decentralized governance token. It…
-
China Accelerates Social Justice in Networked Era
On March 16th, the State Council Information Office issued a white paper titled “Building the Rule of Law in China’s Network in the New Era” on March 16th, which pointed out that China is actively exploring new paths, new fields, and new models for the deep integration of judicial activities and network technology, so as to “accelerate” social justice. “The Construction of China’s Network Rule of Law in the New Era” White Paper: Actively promoting the in-depth application of modern technologies such as blockchain in areas such as litigation services Analysis based on this information:China is stepping up efforts to integrate judicial activities with network technology to accelerate social justice in the new era, according to a white paper recently issued by the State Council Information Office. The paper, titled “Building the Rule of Law in China’s Network in the New Era,” highlights the country’s exploration of new paths, fields, and models to promote the rule of law in cyberspace….
-
The Vulnerability of PEACEMINUSONE (PMO) NFT Series
On March 22, it was reported that according to the monitoring by the Web3 security agency Supreme, the brand PEACEMINUSONE (PMO) NFT series under the name of Korean singer Kwon Chi
-
Coinbase Report Reveals Massive Net Outflow of USDCs to Pulsechain Sacrifice Wallet
According to the report, Conor, the business director of Coinbase, tweeted that the largest net outflow of USDCs seen on the chain belonged to the Pulsechain Sacrifice wallet. At the weekend, they exchanged 155 million USDCs for 153.7 million DAIs. They should use MakerDAO’s PSM directly, and Pulsechain finally took on the sliding point of $1.4 million, which they don’t need to do. Business director of Coinbase: Pulsechain Sacrifice wallet exchanged 155 million USDCs for 153.7 million DAIs Analysis based on this information:Coinbase, one of the leading cryptocurrency exchange platforms, has reported on a significant outflow of its USD Coin (USDC) from its exchange. According to Conor, the business director of Coinbase, the largest net outflow of USDCs was seen on the chain, primarily flowing to the Pulsechain Sacrifice wallet. This transaction occurred over the weekend, where a total of 155 million USDCs were exchanged for 153.7 million DAI, a stablecoin backed by MakerDAO. While the transfer of USDCs to…
-
BUSD market value falls dramatically
It is reported that the market value of BUSD has fallen below the threshold of US $10 billion according to the data of Coingecko, and is currently US $96320229…
-
Epic Games to Ramp Up Encryption Games in its Market
On March 14, the Fortnite developer Epic Games is expected to add nearly 20 games supporting encryption to its market by next year. At present, Epic Games has five encryption games on its market. Epic Games expects to add nearly 20 games supporting encryption to its market next year Analysis based on this information:Fortnite developer, Epic Games, has announced that it is planning to add nearly 20 games that support encryption to its existing list of five encryption games. This move comes in the wake of increasing concerns over online privacy and security. Encryption is the process of converting a plaintext message into ciphertext, which cannot be read by anyone except the intended recipient. By adding more encryption games, Epic Games is signaling its commitment to promoting secure online communication. The gaming market is a prime target for encryption technology. Online games often require players to share sensitive information, such as personal details and bank account information. Yet, many gaming…
-
Korean Kolon Group’s Honorary President Promotes New Virtual Asset Trading Platform
It is reported that Li Xionglie, the honorary president of the Korean Kolon Group, promoted the establishment of a joint venture company with Won An, and coope…