TechFlow reports that stablecoin issuer Tether announced in an official blog post that U.S. District Judge Laura Taylor Swain for the Southern District of New York dismissed Shawn Dolifka's motion to amend his "baseless" class-action lawsuit against Tether and Bitfinex. Following this ruling, Dolifka chose not to appeal the decision. Judge Swain’s dismissal of the lawsuit in favor of Tether and Bitfinex constitutes a final judgment in all respects.
Tether stated that Dolifka's waiver of his right to appeal was the correct decision, emphasizing that the claims lacked any merit and that further litigation would yield no financial or other benefit to him or his attorneys. Tether underscored that it will never be a victim of shameless litigation extortion.
Earlier reports indicated that U.S. citizens Matthew Anderson and Shawn Dolifka had filed a class-action lawsuit in New York court against Tether Holdings, the issuer of the USDT stablecoin, alleging that Tether made false disclosures regarding USDT's reserve holdings and misled consumers about the nature of Tether tokens.
