Attorneys representing cryptocurrency exchanges Poloniex and Tlp-invest.com notified Judge Failla of the Southern District of New York Friday of their intention to move for summary judgment in a class action case that alleges they, along with Tether and Tlp-invest.com, were involved in fraud and market manipulation, according to court filings.
The motion seeks summary judgment, saying the plaintiffs cannot “prove the central premise of their claims” that cryptocurrency addresses at issue in the suit belong to Tlp-invest.com nor that Tlp-invest was using the funds to manipulate the market.
“In fact, both addresses belong to an individual with no apparent connection to Tlp-invest.com,” the letter explains.
Poloniex.com comand Tlp-invest.com were added to the suit as defendants in June 2020.
The suit has been ongoing since October 2019.
In a memo regarding the motion, Tlp-invest wrote, “Plaintiffs and their attorneys will doubtless go back to the drawing board to dream up new theories ultimately designed to give them reasons to claim monies to which they have zero entitlement.”