On Aug. 30, the United States District Court for the Southern District of New York dismissed the suit against the decentralized exchange, its CEO, and its venture capital backers.
The suit was brought by six individuals who bought what they alleged were scam tokens on Uniswap between December 2020 and March 2022. The plaintiffs claimed they lost money on liquidity pools controlled and created by Uniswap smart contracts.
The class action was filed in April 2022 with plaintiffs demanding compensation under the 1933 Securities Act, the same legislation the SEC has used to target crypto companies.
Uniswap Case Dismissed
However, Judge Katherine Polk Failla stated that neither Uniswap nor the plaintiffs knew the identities of the scammers who issued the fake tokens. Moreover, it is the same judge that is presiding over the SEC vs. Coinbase case. More interestingly, the judge also said that Ethereum is a commodity, not a security.
Putative Uniswap class action dismissed by Judge Failla in SD
We współpracy z: https://cryptopotato.com/judge-dismisses-uniswap-scam-token-case-in-another-crypto-court-victory/
