Texas Federal Judge Dismisses Securities Class Action Against Bancor Protocol

According to Odaily, a federal judge in Texas has dismissed a securities class action lawsuit against the operators of the DeFi project Bancor Protocol. Judge Robert Pitman agreed with the opinion that the plaintiffs failed to demonstrate that U.S. courts have jurisdiction over the foreign defendants. This 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 suspending its investment protection feature. The judge also noted that Bancor and its founders do not have sufficient ties to the U.S., suggesting that the plaintiffs could pursue their case in an Israeli court.