Hayden Davis asks New York court to dismiss LIBRA scam class action lawsuit
The post Hayden Davis asks New York court to dismiss LIBRA scam class action lawsuit appeared on BitcoinEthereumNews.com. Hayden Davis, co-founder of Kelsier Ventures behind the LIBRA cryptocurrency, is attempting to dismiss a class-action lawsuit filed against him in New York. The lawsuit accuses Davis of misleading buyers and siphoning over $100 million from the project, claiming it was meant to economically support Argentina. On Thursday, Davis filed a motion to a federal court in New York asking for the case to be thrown out, arguing that the court lacks jurisdiction. “Davis does not reside in New York, does not transact business in New York, was not physically present in New York when the allegedly tortious conduct occurred,” the filing stated. It added that he “made no specific effort to advertise to or serve the New York market in connection with the worldwide offering of $LIBRA meme coins.” Project was ‘conceived in Argentina,’ Davis says In his defense, Davis insisted that the LIBRA initiative had no direct connection to New York. “The project was conceived of in Argentina,” he asserted in the court filing, telling prosecutors that it was “offered to any buyer worldwide” and not marketed to any specific jurisdiction. The motion is also seeking to nerf the project’s online presence, describing its website as “passive” and saying it “does not knowingly transmit goods or services to users in other states.” Davis claimed the site’s function was limited to “collecting applications from businesses in Argentina.” The plaintiffs allege that Davis, along with his brothers and fellow Kelsier Ventures co-founders Gideon and Thomas Davis, built LIBRA under the false promise of boosting Argentina’s economy. The lawsuit reiterated that the real intent was to drain money from one-sided liquidity pools and move more than $100 million into wallets controlled by the Davis family and their associates. It blames the defendant for making public statements that helped build trust around…

The post Hayden Davis asks New York court to dismiss LIBRA scam class action lawsuit appeared on BitcoinEthereumNews.com.
Hayden Davis, co-founder of Kelsier Ventures behind the LIBRA cryptocurrency, is attempting to dismiss a class-action lawsuit filed against him in New York. The lawsuit accuses Davis of misleading buyers and siphoning over $100 million from the project, claiming it was meant to economically support Argentina. On Thursday, Davis filed a motion to a federal court in New York asking for the case to be thrown out, arguing that the court lacks jurisdiction. “Davis does not reside in New York, does not transact business in New York, was not physically present in New York when the allegedly tortious conduct occurred,” the filing stated. It added that he “made no specific effort to advertise to or serve the New York market in connection with the worldwide offering of $LIBRA meme coins.” Project was ‘conceived in Argentina,’ Davis says In his defense, Davis insisted that the LIBRA initiative had no direct connection to New York. “The project was conceived of in Argentina,” he asserted in the court filing, telling prosecutors that it was “offered to any buyer worldwide” and not marketed to any specific jurisdiction. The motion is also seeking to nerf the project’s online presence, describing its website as “passive” and saying it “does not knowingly transmit goods or services to users in other states.” Davis claimed the site’s function was limited to “collecting applications from businesses in Argentina.” The plaintiffs allege that Davis, along with his brothers and fellow Kelsier Ventures co-founders Gideon and Thomas Davis, built LIBRA under the false promise of boosting Argentina’s economy. The lawsuit reiterated that the real intent was to drain money from one-sided liquidity pools and move more than $100 million into wallets controlled by the Davis family and their associates. It blames the defendant for making public statements that helped build trust around…
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