Bitfinex will submit a motion to revoke the class action against it

Bitfinex announced that on November 15, local time, Bitfinex told the Southern District Court of New York that it intended to move a motion to revoke the class action filed last month. The motion will accuse many plaintiffs of the reasons for the lawsuit lacking the necessary legal basis to prevent the case from proceeding through the early stages. Bitfinex said that the plaintiff’s allegations of manipulating bitcoin depend to a large extent on drafts of academic papers that John M. Griffin and Amin Shams have not yet published. In addition to the flaws in the main methods of the paper, recent revisions have been made to circumvent support for the plaintiff’s complaint against the core allegations. The complaint also ignored other factors that caused bitcoin prices to soar in 2017. In addition, the complaint claimed that there was no evidence and no reason to claim that between March and December 2017, Tetherr manipulated the market in some way to a size of more than 700 times. Bitfinex expects to submit the true facts to the court at this stage and throughout the litigation process.