Jump Trading LLC and its cryptocurrency arm convinced a California court that it lacks jurisdiction over the companies in a suit brought by investors who were unable to liquidate their TerraUSD stablecoin holdings as they rapidly lost value in 2022.
The plaintiffs failed to show the companies “either purposefully directed their activities to California or purposefully availed themselves of the privileges of California” to allow the court to exercise specific personal jurisdiction, Magistrate Judge Peter H. Kang of the US District Court for the Northern District of California said in a Tuesday order. Kang gave the investors until Feb. ...
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