Bibox Fights Token Buyer's Bid To Revive State Law Claims

Law360 (May 14, 2021, 4:22 PM EDT) -- Digital asset trading platform Bibox said that a user's state law claims of securities violations were rightly dismissed the first time and that a request for consideration was merely an effort to get "a second bite at the apple."

Bibox Group Holdings Ltd. urged a New York federal court Thursday to stick with its earlier decision to dismiss state "Blue Sky" claims facing Bibox, two of its affiliates and three executives. The court's April dismissal of those claims was correct and shouldn't be reconsidered, Bibox argued, saying that cryptocurrency buyer Alexander Clifford hadn't met the standard for reconsideration.

"The well-settled standard...

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