Federal judge dismisses $LIBRA rug pull class action against Hayden Davis, Meteora, and Kelsier Ventures with prejudice.
Key rulings in 81-page decision:
• 6-month launch window deemed too short to establish RICO "pattern" — once RICO claims collapsed, court lost jurisdiction over the Davises
• Plaintiffs failed to name Meteora's president or treasurer, so under NY law the protocol couldn't be sued as an entity
No examination of whether insiders drained funds from investors who trusted Argentine president Javier Milei's endorsement.
The takeaway: move fast enough, keep corporate structure vague enough, and legal accountability evaporates.
Key rulings in 81-page decision:
• 6-month launch window deemed too short to establish RICO "pattern" — once RICO claims collapsed, court lost jurisdiction over the Davises
• Plaintiffs failed to name Meteora's president or treasurer, so under NY law the protocol couldn't be sued as an entity
No examination of whether insiders drained funds from investors who trusted Argentine president Javier Milei's endorsement.
The takeaway: move fast enough, keep corporate structure vague enough, and legal accountability evaporates.