Terraform Labs Now relief-filled sighs as Class-Action Lawsuit Gets Dropped

Terra Labs celebrates dismissal of class action lawsuit, asserting innocence, and expects meritless claims to continue failing.
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Terraform Labs Now relief-filled sighs as Class-Action Lawsuit Gets Dropped

A class action complaint charging Terraform Labs (TFL) and Do Kwon of fraud has been voluntarily dismissed in the U.S. District Court for the Northern District of California, giving Terraform Labs another victory.

According to recent reports, Do Kwon has voluntarily been freed from custody in the U.S. District Court for the Northern District of California, giving Terraform Labs (TFL) another victory in a class-action case that accused the company of fraud.

This development follows the agreeable removal of the Albright class-action lawsuit from the U.S. District Court for the Southern District of New York earlier this year. There aren’t any active class-action lawsuits against TFL in the US at the moment.

It was written in the filing that “The TFL Defendants have neither answered the complaint (Dkt. No. 102) nor filed motions for summary judgment.”

Terra stated on Twitter, “TFL has been unequivocal that neither the company nor its principals did any wrongdoing from the moment the Terra ecosystem was attacked and UST debugged. Once again, after the briefing process exposed its flaws, plaintiffs withdrew their case days before the oral argument.

The statement continued, “We fully expect to continue seeing meritless legal actions against TFL fail as we defend against them, and we’re delighted they’ve opted not to continue striking at windmills.

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