US court closes LIBRA memecoin lawsuit on procedural grounds
A September 29 ruling ended the LIBRA/M3M3 district-court case after the suit failed on continuity, pleading and jurisdiction grounds.
A US judge has dismissed the lawsuit concerning the LIBRA memecoin and the M3M3 project, closing the district-court case with a September 29 ruling. The order leaves the investors who brought the claim without an active case.
Why the case was dismissed
- Failures related to the continuity of the case
- Deficiencies in how the claims were pleaded
- Jurisdiction problems
The ruling covers the LIBRA/M3M3 matter at the district-court level. The available summary does not name the presiding judge, identify the district, specify the amount sought, or state whether the plaintiffs can refile or appeal.
The token at issue is the one associated with Argentine President Javier Milei. Investor lawsuits over memecoin launches have frequently turned on procedural questions such as jurisdiction and pleading standards before any court reaches the underlying merits of the claims.