A US District Court judge has dismissed a racketeering case against the owner of the cryptocurrency derivatives platform BitMEX. The plaintiffs had sued HDR Global Trading, arguing that BitMEX had violated several federal laws. However, after noticing that a large number of the offended party’s allegations had been directly copied from an alternate claim filed against the platform, the judge tossed the suit, with prejudice.
On September 7, Judge William Orrick excused the offended party’s case that BitMEX had engaged in fraudulent inducement and market manipulation, and that it had violated both the Racketeer Influenced and Corrupt Organization Act (RICO) and Commodity Exchange Acts. According to legal media outlet Law360, the judge finished up the filings were “conclusory” and “prolix” in nature and indicated that he wasn’t able to find any original supporting data for the new case.
The updated legal complaint was presented by a group of cryptocurrency traders that included BMA LLC, an organization previously known as “Bitcoin Manipulation Abatement.” It is infamous for bringing suits against prominent cryptocurrency firms and Judge Orrick dismissed a prior adaptation in March on the grounds it was unreasonably longwinded. That one included 237 pages of arguments and the judge said the complaint was “too long.” The amended case included 378 pages.
The plaintiffs are not allowed to bring the case forward again, with Judge Orrick killing their solicitation for additional amendments. Pavel Pogodin, the plaintiffs’ attorney, dismissed the judge’s response and asserted that he didn’t provide a single document that supported his theory that the case had been duplicated.
