Court Dismisses Market Manipulation Claims Against BitMEX
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A US court has dismissed claims against crypto derivatives exchange BitMEX arguing that a significant portion of the charges have been copied from other claims against the company, Law360 has reported.

This is a lawsuit in which BitMEX was accused of manipulating the crypto market, as well as violating racketeering laws. The judge declared:

"The size and prolix nature [...] alone are grounds for dismissal. I have also searched for a plausible claim and cannot find one."

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The initiator of the proceedings was BMA LLC, which had previously attempted to sue other major crypto companies in a similar way. This was the second version of its lawsuit against BitMEX after the first was dismissed in May. Even then, the court warned the lawsuit, which consisted of 237 pages, was too long, but the updated document turned out to be 378 pages long.

The judge has stressed the allegations of market manipulation were copied from another lawsuit filed against BitMEX in New York:

"I will not consider those copied allegations, for which the Messieh court will determine plausibility."

In addition, the judge has prohibited the filing of a new version of the same claim. The plaintiff's representative, Pavel Pogodin, has stated:

"The judge did not cite a single case to support his assertions regarding the copied material."

The plaintiff has also previously said the judge does not understand cryptos and has proposed to give him lessons on their basics. The judge, in turn, has recommended that the plaintiff "focus on the task at hand — convincing me that they have stated a plausible claim."

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