Texas judge dismisses class action lawsuit against DeFi project Bancor, ruling it is not subject to U.S. jurisdiction

ChainCatcher news, a Texas federal judge dismissed the securities class action against the DeFi project Bancor protocol operators. Judge Robert Pitman agreed with the opinion of the court, ruling that the plaintiffs failed to prove that U.S. courts have jurisdiction over foreign defendants.

The ruling indicates that Bancor's foreign operations are not subject to U.S. securities laws, and the plaintiffs cannot sue Bancor in the U.S. for its suspension of investment protection features. The judge also noted that Bancor and its founders do not have sufficient ties to the U.S., suggesting that the plaintiffs could file a lawsuit in an Israeli court.