U.S. court dismisses LIBRA class action, clears path

6.6 Regulation

Oct 1, 2026

U.S. court dismisses class action against LIBRA and M3M3, removing legal barriers and supporting the token’s future development.

A federal court in New York has dismissed with prejudice the class action lawsuit against LIBRA, M3M3, and associated parties, including Hayden Davis, Kelsier Labs, Benjamin Chow, and Meteora. Judge Jennifer Rochon ruled that six months of memecoin launches did not substantiate a claim under the RICO Act, and the plaintiffs failed to properly identify Meteora as a suable entity. The court also denied personal jurisdiction in New York and rejected the possibility of filing a new lawsuit. This decision effectively removes legal obstacles for LIBRA and its associates in the U.S. Meanwhile, in Argentina, the judiciary continues to investigate the $LIBRA case for alleged cryptocurrency fraud. However, the Federal Court of Appeals denied four investors' requests to become plaintiffs. The U.S. ruling is expected to boost confidence and interest in the LIBRA token's future development.