Tether and Bitfinex Win Comprehensive Legal Victory as U.S. District Court Dismisses Class Action Lawsuit

Tether
by Tether | Aug 4 2023

Today, Chief Judge Laura Taylor Swain of the U.S. District Court for the Southern District Of New York issued a comprehensive and incisive 6-page decision that included an order dismissing the meritless class action lawsuit filed by Matthew Anderson and Shawn Dolifka against Tether and Bitfinex companies in its entirety. The Court correctly held that plaintiffs’ complaint lacked any “plausible allegations of injury” because it includes no facts showing that “USDT had a diminished actual value at all.”

The entirety of the class action complaint being dismissed at this very early stage of the proceedings punctuate the fact that plaintiffs’ claims were void of any legal merit.

Be assured, we at Tether and Bitfinex remain laser focused on continuing to deliver on our promises and ensure our customers and our community are protected.

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