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Class Action Lawsuit Against Tether and Bitfinex Dismissed by U.S. District Court Chief Judge for Lack of Plausible Allegations of Injury

Chief Judge Laura Taylor of the U.S. District Court for the Southern District of New York has dismissed a class action lawsuit against Tether and Bitfinex filed by Matthew Anderson and Shawn Dolifka. The lawsuit was dismissed due to a lack of "plausible allegations of injury" regarding Tether's stablecoin, USDT, being backed one-to-one by the U.S. dollar. The stablecoin issuer stated that the dismissal of the complaint at an early stage of the proceedings shows that the plaintiffs' claims lacked legal merit. 

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