Terraform Labs (TFL) and Do Kwon mark another victory at U.S. District Court, Northern California, due to voluntary dismissal of the class-action lawsuit alleging fraud against them
The filing stated, “The TFL Defendants have neither answered the complaint (Dkt. No. 102) nor filed motions for summary judgment.”
As the Albright class-action lawsuit was already withdrawn last year, no other class-action lawsuit remains pending against TFL in the United States.
Terra shared on Twitter, “From the moment the Terra ecosystem was attacked and UST depegged, TFL has been adamant that neither the company nor its principals committed any wrongdoing. Once again, we’ve seen plaintiffs withdraw their case-days before oral argument – after the briefing process exposed its weaknesses.”
It added, “We’re glad they have decided not to continue hitting at windmills, and we fully expect to continue to see meritless legal claims against TFL fail as we defend against them.