Federal court in New York on October 1 dismissed with prejudice the class action over $LIBRA and $M3M3 against Hayden Davis, Ben Chow, Kelsier and Meteora.

M3M3 ($M3M3) (@WEAREM3M3_) · LIBRA Hayden ($LIBRA)

$M3M3, solana: M3M3pSFptfpZYnWNUgAbyWzKKgPo5d1eWmX6tbiSF2K · DexScreener

$LIBRA, solana: BzN1UWoesPaxaYRqaMf1JKeMQhZ5kzcqpnbQoubqDB31 · DexScreener

For $M3M3 the contract ownership is not renounced, the owner can mint new tokens, and the top 10 holders excluding pools control about 85%; for the found $LIBRA pool liquidity is zero. The court did not decide whether there was deception: it held that the suit was built incorrectly, because six months of launches do not amount to RICO, and Meteora as software cannot be a defendant. This is not an exoneration of the launches and not a return of money to plaintiffs, and the investigation in Argentina continues.

Facts

The Defiant reported that a federal judge dismissed the suit over $LIBRA and $M3M3 with prejudice, the case against Davis, Kelsier, Chow and Meteora is closed. [DefiantNews, October 1, 2026]
SolanaFloor: RICO, fraud and unjust enrichment claims were rejected, and an attempt to add $MELANIA and other tokens was denied. [@SolanaFloor, October 1, 2026]
Per analysis by moo9000, the ruling does not decide whether there was fraud, no damages were awarded, and the freeze of about 57.6 million dollars had already been lifted in August 2025. [@moo9000, October 1, 2026]
Timmy_Turnes notes that the case in Argentina continues, and plaintiffs could theoretically appeal the decision. [@Timmy_Turnes, October 1, 2026]
DEXTools for $M3M3: addresses can be blocked, the owner can mint tokens, automated verification flags the contract as suspicious. [DEXTools]

Watching:

Whether plaintiffs will appeal the New York court decision.

post from Telegram channel MEME MOVE 🎪🏃‍♂️