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Northern District of California Dismisses Traders’ Suit Against Bitmex Crypto Exchange

IN THIS ISSUE

Northern District of California Dismisses Traders’ Suit Against Bitmex Crypto Exchange with Prejudice; Delaware Supreme Court Upholds Chancery Court Ruling That Stockholder Appraisal Rights Can Be Waived by Contract; Alternative Data Provider App Annie Settles SEC Fraud Investigation for $10 Million.

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NORTHERN DISTRICT OF CALIFORNIA DISMISSES TRADERS’ SUIT AGAINST BITMEX CRYPTO EXCHANGE WITH PREJUDICE

On September 7, 2021, in BMA LLC, et. al. v. HDR Global Trading Limited, et. al., Judge William H. Orrick of the U.S. District Court for the Northern District of California dismissed with prejudice a suit brought by traders against HDR Global Trading (“HDR”), the owner and operator of the cryptocurrency derivatives trading platform Bitcoin Mercantile Exchange (“BitMEX”), and its co-founders. The court found that plaintiffs not only lacked standing, but also failed to plead any plausible claim for relief.



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