The United States Court of Appeals for the Second Circuit declared that the rationale given by the district court for dismissing the lawsuit against crypto exchange Binance was erroneous.
A United States appeals court has overturned a ruling that dismissed a class-action lawsuit led by investors against cryptocurrency exchange Binance.
According to a March 8 filing in the United States Court of Appeals for the Second Circuit, a ruling by the district court that dismissed investors’ claims of transparency issues in Binance’s sale of alleged securities has been overturned in favor of the investors.
“We hold that each of the district court’s bases for dismissing Plaintiffs’ claims that are before us on appeal was erroneous,” the filing stated.
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Source: https://cointelegraph.com/news/appeals-court-united-states-crypto-exbinance-dismiss-class-action-lawsuit