TechFlow news: Zhu Su, co-founder of Three Arrows Capital (3AC), announced that the class-action lawsuit against Terraform Labs, Luna Foundation Guard (LFG), Do Kwon, and their affiliated companies has been voluntarily dismissed. Lead plaintiff Matthew Albright filed a notice with the U.S. District Court for the Southern District, stating that the case was voluntarily withdrawn without prejudice to the defendants.
In August this year, victims of the Terra collapse filed a class-action lawsuit alleging that the defendants falsely promoted the UST algorithmic stablecoin, Terra (LUNA), and other related Terra tokens. The defendants included Terraform Labs, Jump Trading, Delphi Digital Consulting, Luna Foundation Guard (LFG), Do Kwon, Nicholas Platias, Jose Macedo, Kanav Kriya, and Remi Tetot.
It should be noted that two other class-action lawsuits against Terraform Labs and Do Kwon, initiated by law firms Bragar Eagel & Squire, P.C. and Scott+Scott, are still ongoing. Original link
