LIBRA lawsuit dismissed as court rejects claims against Meteora and Chow

Meteora and its former CEO Benjamin Chow have secured the dismissal of a U.S. class action that accused them and Kelsier Ventures of fraud and racketeering tied to the LIBRA and M3M3 memecoin launches. A New York federal judge dismissed the LIBRA class action against Meteora, former CEO Benjamin Chow and the Kelsier defendants, with the amended complaint dismissed with prejudice and the case closed. The court found plaintiffs had not sufficiently shown that Meteora was an unincorporated association or partnership capable of being sued under the claims presented. Claims against Chow were dismissed after the court found allegations involving his technical assistance, knowledge of the LIBRA launch and Meteora transaction fees did not adequately establish fraudulent intent.