US Judge Dismisses Antitrust Case Accusing Bitmain, Kraken, and BCH Devs of Manipulation – Bitcoin News

A US court in Miami has dismissed an amended indictment accusing nine defendants, including Kraken founder Jesse Powell, Bitcoin.com founder Roger Wehr, Bitmain’s Jihan Wu and several Bitcoin Cash open source developers, of conspiracy. The 31st. In March 2021, U.S. District Judge Chris McAuley dismissed the amended complaint under the Federal Rule of Civil Procedure.

Released

In 2018, following the split of Bitcoin Cash (BCH) and Bitcoinsv (BSV), Florida-based blockchain company United American Corp – Unitedcorp (UAC), attempted to sue a number of well-known cryptocurrency veterans and developers. According to the UAC and its lawyers, the nine defendants allegedly participated in a scheme to manipulate the cryptocurrency market to generate bitcoin cash (BCN). The process took more than two years and the 3. In February 2020, Judge Chris McAuley dismissed the case against the defendants without prejudice, meaning the law firm can amend the complaint.

A new filing shows that on Wednesday the 31st. March 2021, Judge Chris McAuley again dismissed the amended complaint under the Federal Rule of Civil Procedure. Makalili discussed some of the complaints raised by the UAC lawyers, and the magistrate ruled that the allegations did not indicate that such violations had been committed.

United States Corporation Unpleasant facts

The SAC also accused the defendants of bid rigging, a form of horizontal price fixing, but said: The SAC does not allege, and the Court cannot imagine, that the Exchange and Construction Defendants were involved in a grand conspiracy.

As for the antitrust violation, that argument doesn’t hold up, McAuley’s decision said. As noted, the Court finds that IBC has not alleged any facts from which it can be inferred that Defendants violated the antitrust rules. Thus, I do not address whether the UAC has a sufficient claim to antitrust status, Makali said.

The judge in Miami concluded:

For the foregoing reasons, the Court hereby grants Defendants’ joint motion to dismiss the First Amended Complaint pursuant to the Federal Rule of Civil Procedure.

The SAC may attempt to continue the case by filing an appeal with the United States Court of Appeals for the Eleventh Circuit within 30 days. McAuley’s order also noted that it would be futile to allow the UAC to make further attempts to allege that the defendants violated the Sherman Act….. Consequently, the court dismisses the case with prejudice, the Miami judge added.

What do you think about the fact that the UAC case was dismissed by a Florida judge? Let us know what you think in the comments below.

Tags in this story

antitrust case, antitrust lawsuit, BCH, BCH developers, BCH Devs, bitcoin cash BCH, Bitcoinsv (BSV), Bitmain, Chris McAliley, lawsuit, lawsuit Florida, Jesse Powell, Jihan Wu, Kraken, Roger Wehr, Sherman Act, U.S. District Court, UAC, United American Corp, UnitedCorp

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