U.S. Court Dismisses Years-Long Scam Token Lawsuit Against Uniswap Labs
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A federal court dismissed a class action lawsuit against Uniswap Labs for facilitating trading of scam tokens on its DEX. The ruling was made after four years, as plaintiffs failed to prove knowledge of fraud by the defendants.
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A federal court in the United States has dismissed a class action lawsuit accusing Uniswap Labs of facilitating the trading of scam tokens on its decentralized protocol. The court dismissed the plaintiffs’ claims with prejudice after four years of trial.
According to a filing with the U.S. Court for the Southern District of New York, Judge Katherine Polk Failla dismissed the case for several reasons, including the plaintiffs’ failure to allege the defendants’ knowledge of the fraud. Among other reasons, the judge also ruled that the plaintiffs failed to allege that Uniswap Labs and its founder, Hayden Adams, aided, abetted, and substantially assisted the fraud.
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