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A Texas judge dismissed a class action lawsuit against the Decentralized Finance project Bancor, ruling that it is not subject to US jurisdiction.
On September 10, a federal judge in Texas dismissed a securities class action against the operator of the Decentralized Finance project Bancorprotocol. Judge Robert Pitman agreed with the judge's opinion, ruling that the plaintiffs failed to prove that US courts have jurisdiction over foreign defendants. The ruling indicates that Bancor's foreign operations are not subject to U.S. securities laws, and the plaintiff cannot sue Bancor in the United States for suspending investment protection. The judge also pointed out that Bancor and its founders do not have sufficient contacts with the United States, and suggested that the plaintiff could file a lawsuit in Israeli courts.