The https://newsportal.com.ua/2022/08/24/in-ukraine-cyber-attacks-were-recorded-for-theft/ court rejected the lawsuit against market manipulations

The court rejected BMA LLC’s lawsuit against the BitMex cryptocurrency derivatives. The judge considered that a significant part of the accusations repeats other Криптоскам как complaints to the platform, reports Law360.

In May 2020, BMA LLC filed a lawsuit against Bitmex and its co -founders Arthur Hayes, Benaus and Samuel Reed. The company claimed that in 2019, almost 15% of the sales volume of the platform (about $ 138 billion) was on traders from the United States, but the exchange did not have necessary for the provision of services to residents of the United States of licenses.

According to the publication, Judge William Orrick rejected the accusations of manipulating the market, incitement to fraud and violation of the Rico Law . He noted that the documents submitted by the plaintiff were “indirect” and “excessively verbose”.

“The scale and excessive verbosity in itself are the basis for deviation of the claim. I was looking for convincing statements, but I never found, ”Orric said.

In March, the court has already rejected the original version of the complaint, which contained 237 pages and 600 paragraphs. Despite the fact that BMA directly warned of the excessive amount of documents, 378 pages and 1000 paragraphs were in the corrected lawsuit.

The judge emphasized that charges of market manipulations were copied from another complaint filed against BitMex in New York.

“I will not consider copies of accusations whose viability will be determined by another court. Other arguments of the plaintiffs are also untenable, ”the court decision says.

Orrick banned the presentation of a new version of a similar claim. In a conversation with the publication, BMA representative Pavel Pogodin said that the judge “did not bring a single argument in favor of his allegations of copied materials”.

In August, Bitmex regulated a civil dispute with CFTC and Fincen, agreeing to pay a fine of $ 100 million.