Finance News
By Steven Anderson
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Original Filing against Tether
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Tether Seasoned to Deal with Class Action Suits
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Sydney Ifergan, the crypto expert, tweeted: Now that Adam Kurtz and Eric Young opted voluntary dismissal of their allegation versus #Tether and #iFinex inc (bitfinex), we now…
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Ifergan further stated, “Just like @bitcoinlawyer stated in the past on Twitter we now know the earth is not flat.
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Probably the crypto expert was referring to what Stuart Hoegner previously tweeted: “Saying that @tether_to & @bitfinex activity is the only thing driving bitcoin…
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In the original filing, the plaintiffs alleged inaccurate information, Monopoly, conspiracy, and printing of unbacked Tethers.
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In a statement on Friday, Stuart Hoegner, general counsel to Bitfinex, questioned why the suit was filed in the Washington State when it should have got filed in the Southern…
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There is no apparent reason why the plaintiffs should withdraw their case.
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From the statement of Stuart Hoegner, there is an assumption that an issue of filing the suit in the wrong jurisdiction might be the reason.
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The plaintiffs have been very clearly stating that the artificially printed unbacked Tethers got printed when the Bitcoin price was decreasing.
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Of note, the original filing took place on November 22, 2019. It got withdrawn. They again re-filed the same suit in a different jurisdiction on January 07, 2020.
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Per US Legal norms, no court would choose to try a case that has got voluntarily dismissed twice. There is no clue as to why the plaintiffs would withdraw twice.
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They did nothing than create a Ripple effect and make a few headlines in the news. Tether is now seasoned to deal with class action suits than ever before.
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