Mizuho Can't Take 7th Circ. Detour In Mt. Gox Dispute

Law360, Chicago (April 27, 2016, 6:02 PM EDT) -- Japanese bank Mizuho cannot complain to the Seventh Circuit that a proposed class action over the bank's alleged participation in bitcoin exchange Mt. Gox's collapse does not belong in the U.S., an Illinois federal judge ruled Wednesday, saying Mizuho misinterpreted the allegations against it.

At a hearing Wednesday, U.S. District Judge Gary Feinerman denied a motion by Mizuho Bank Ltd. to ask the Seventh Circuit whether an American court has jurisdiction over the bank, after he ruled in March that the lawsuit could not be defeated on personal jurisdiction grounds.

Judge Feinerman agreed with Mizuho that the lawsuit would present a...

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