After a Manhattan federal judge blasted Roche Freedman LLP founding partner Kyle Roche’s public statements, the judge has removed the crypto boutique law firm from the market manipulation lawsuit against Tether and Bitfinex. A recent hearing revealed that Katherine Polk Failla (U.S. District Judge) believes litigation could be stalled. She further stressed that “the metaphorical baggage” Roche Freedman carries “is not in the best interests of the class.”
The Class Action Lawsuit Against Bitfinex and Tether was dismissed by Judge Boots Roche Freedman
Roche Freedman LLP’s founding partner Kyle Roche discovered himself in the middle of a number of controversies. series of videosCrypto Leaks published a video in which Roche discussed specific relationships with crypto-related businesses. Roche resigned from several crypto-related class actions lawsuits on August 31 and addressed Crypto Leaks videos. He said that the leaked videos contained “numerous unsourced false statements” that were “illegally obtained.” Roche added:
[The]Video clips with high quality editing [are]Not presented in the correct context.
However, following the leaks, Tether’s legal representation, Elliot Greenfield of Debevoise & Plimpton LLP, asked the court to remove the law firm Roche Freedman from the class-action lawsuit. Tether’s lawyer Elliot Greenfield said that the leaks and Roche’s involvement with the class-action lawsuit raises “grave concerns for the defendants regarding the motivations behind the lawsuit.” Furthermore, the crypto exchange companies Bittrex and Poloniex sent a request to the judge as well, asking her to remove Kyle Roche’s law firm from the court proceedings.
Following the requests from Tether, Poloniex, and Bittrex, law360.com reported that the “Manhattan federal judge blasted Roche Freedman LLP founding partner Kyle Roche’s ‘uniquely stupid’ comments.” Then, both Bloomberg Law and law360.com published reports that indicate U.S. district judge Katherine Polk Failla has removed Roche Freedman from the lawsuit. Failla explained that Roche’s public comments were “too detailed to dismiss out of hand.”
The law firms Selendy Gay Elsberg and Schneider Wallace will take the reins in the class action lawsuit, after Roche Freedman’s official disqualification. Failla said that the law firm could still serve as counsel, but she stressed that “the metaphorical baggage” Roche Freedman carries “is not in the best interests of the class.” Bloomberg Law contributor Justin Wise further adds that “Roche Freedman faces disqualification motions in at least four other cases, according to federal court filings.”
Do you agree with Roche Freedman getting removed from the Tether lawsuit class action case? Comment below and let us know how you feel about the subject.
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