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Another lawsuit filed against Binance has come to an end. Accordingly, the UK court has dismissed the $BSV lawsuit filed against Binance.
Accordingly, the UK Court of Appeal dismissed the $13.3 billion class action lawsuit filed by $BSV investors against Binance.
According to Decrypt, a UK court has rejected $BSV investors’ $11.9 billion claim, saying that investors can mitigate their losses after Binance and other companies delisted the $BSV token.
In the class action lawsuit, the plaintiffs alleged that the removal of $BSV by platforms like Binance in 2019 crashed the price of $BSV, leaving it unable to reach a price level close to Bitcoin.
“By delisting $BSV, platforms like Binance have destroyed the potential for $BSV to become a world-class cryptocurrency like Bitcoin and the chance to profit from $BSV. We are therefore seeking damages of £8.9 billion ($11.9 billion),” the plaintiffs said.
However, the court ruled that the plaintiffs’ $BSV claims were speculative, that investors could have mitigated their losses through the open market, and that the responsibility for mitigating losses was theirs.
The court also added that $BSV was not an irreplaceable asset and that the amount of damages sought was excessive and unsupported.
With the general rise in the market, $BSV price has also increased by 9% in the last 24 hours.
*Not investment advice