A US judge dismissed with prejudice Burwick Law’s lawsuit against Hayden Davis over the LIBRA and M3M3 tokens. Judge Jennifer Rochon denied plaintiffs Omar Hurlock and Anuj Mehta leave to file a second amended complaint, calling it futile, and granted three motions from the Kelsier defendants. She ruled that Burwick Law failed to prove Meteora was a suable entity, that Benjamin Chow acted fraudulently, and could not establish personal jurisdiction in New York. The LIBRA token, publicly launched by Argentinian President Javier Milei in February 2025, caused over $250 million in investor losses, with 86% of holders losing money according to Nansen Research. Attorney Ariel Giver clarified that this dismissal does not mean memecoins are legal, but rather that plaintiffs sued the wrong entity, under the wrong statute, with the wrong facts.
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