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The founder of the LIBRA token is fighting a class-action lawsuit, citing lack of jurisdiction.
The creators of the LIBRA token are seeking to dismiss a class-action lawsuit in New York, arguing that the court lacks jurisdiction because the token is offered globally. Hayden Davis, co-founder of Kelsier Ventures, is requesting the court to dismiss the lawsuit, claiming that the allegations are not related to New York.
Davis emphasized that he does not reside, trade, or have a presence in New York when the misconduct occurred. He also stated that the promotion of the LIBRA token was not aimed at New York residents. The lawsuit was filed by a group of LIBRA buyers, accusing Davis and the co-founders of deceiving investors about the purpose of the token.
The plaintiff group has obtained a freeze order on assets worth $57.65 million related to the LIBRA project. Davis requests that the lawsuit be dismissed without prejudice so that it can be refiled in another court.