US Judge Disqualifies Roche Freedman From Case Against Tether

A US District Judge has disqualified Roche Freedman LLP from the lawsuit it filed against crypto exchange platform Bitfinex and sister company Tether on behalf of several investors according to a Bloomberg report.

The lawsuit  filed in 2019, alleges that stablecoin issuer Tether fraudulently inflated cryptocurrency markets by issuing unbacked dollar-denominated tokens, causing “the largest bubble in human history.”

According to Judge Katherine Polk Failla, the law firm’s continued participation in the lawsuit is not in the best interest of the class as its metaphorical baggage could derail the case.

Interestingly, the law firm could also be removed from at least four other cases where the defendants have filed for its disqualification according to the reports.

Following Roche Freedman’s removal, the law firms Selendy Gay Elsberg and Schneider Wallace will now lead the class that is seeking damages up to $1trillion.

However, the door was not completely shut against Roche Freedman as the firm could still serve as Counsel in the litigation. The Court’s decision follows recent allegations against Kyle Roche, the founding partner at the firm. 

Kyle Roche caught in agenda against crypto firms

Earlier in the month, crypto leaks, a whistleblower site released damning evidence including videos of  Kyle Roche allegedly plotting to use the American legal system gangster style to attack and harm crypto firms.

He reportedly met with Brad Garlinghouse, the CEO of Ripple Labs and Emin Gün Sirer of Ava Labs to invest in his idea. Both executives have refuted the claims, denying any connections to Kyle Roche’s firm.

The US attorney has since replied to the allegations of Crypto leaks, calling them “unsourced false” statements that were illegally obtained and were presented out of context. The controversial lawyer has since excused himself from other class suits involving crypto firms. He decided to relinquish the high-profile crypto class-action lawsuits led by him.

Interestingly Kyle Roche’s firm led several class action suits against crypto players. The firm recently filed a suit against Solana Labs alleging that the platform promoted unregistered security in the form of Solana Coin (SOL).

The firm is also representing a group of investors who dragged Binance.US to court for facilitating the trading of LUNA and UST tokens which are unregistered securities in the US.