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Roche Freedman Dropped by Court in Tether, Bitfinex Lawsuit

Roche Freedman Dropped by Court in Tether, Bitfinex Lawsuit
  • Roche is a crypto lawyer and founding partner at Roche Freedman.
  • Both Tether and Bitfinex team have expressed their delight after the decision.

According to a Bloomberg article from Thursday, the law firm Roche Freedman was dropped as counsel for the plaintiffs in the market manipulation class action case against cryptocurrency exchange Bitfinex and stablecoin issuer Tether.

Despite Kyle Roche’s request to withdraw from his firm’s class action practice. A New York judge went ahead and made the decision. Roche is a crypto lawyer and founding partner at Roche Freedman.

Crypto Leaks, a whistleblower website, released a series of videos in August. Alleging that Roche used class-action lawsuits as a tool to get private information about numerous cryptocurrency startups. Those claims were refuted by Roche.

Tether, Bitfinex, the Tron Foundation, HDR Global Trading (which operates as BitMEX), Nexo Capital, BAM Trading, Dfinity, and Solana Labs were all defendants from litigation that Roche had withdrawn from. A class action lawsuit that Roche had joined against a number of educational institutions was also dropped.

Defendants Delighted Over Decision

Both Tether and Bitfinex have asked to have Roche’s whole legal practice disqualified from representing them. According to the article, District Court Judge Katherine Polk Failla expressed concern that the firm’s continuing involvement in the case may delay proceedings. “The metaphorical baggage they now carry is not in the best interests of the class,” Failla said.

Tether spokesperson stated:

“We are pleased with the Court’s thorough and well-reasoned decision to remove Roche Freedman LLP as interim class counsel. Roche Freedman’s repeated attempts to trivialize and separate itself from Kyle Roche’s despicable statements describing unethical conduct were not the least bit persuasive.”

In its 2019 lawsuit against Bitfinex and Tether, a sibling business. The plaintiffs are seeking compensation for potential losses that might exceed $1 trillion.

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