California judge rejects class action lawsuit against Dfinity Foundation

BlockBeats News: On March 27th, a federal judge in California dismissed a class action lawsuit against the Dfinity Foundation, the development company of ICP. Judge James Donato of the United States District Court approved Dfinity's motion to dismiss, ruling that the case was "time barred" due to exceeding the three-year statute of limitations under the Securities and Exchange Act. The court supported Dfinity's argument that its first offering of ICP tokens to the public was in February 2017, therefore the investor lawsuit in August 2021 has exceeded the statutory time frame. At that time, the plaintiff represented by Freedman Normand Friedland LLP (formerly Roche Freedman) did not respond to the defendant's arguments. Therefore, Judge Donato wrote that it was "only natural" to dismiss these claims due to the statute of limitations. （Decrypt）