According to Wu Blockchain, crypto lawyer Ariel Givner revealed that a federal judge in the Eastern District of New York has dismissed the class action lawsuit against Magic Eden's operating entity, Euclid Labs, and its co-founder Zhuoxun Yin regarding the ME token. The plaintiffs accused the platform of promoting ME tokens with cross-chain functionality and buyback features, later transitioning into a gambling platform, which caused the token price to plummet by over 98%. However, the judge ruled that the wallet terms signed by users explicitly included a valid class action waiver clause, leading the federal court to lose subject matter jurisdiction under the Class Action Fairness Act (CAFA). Additionally, the court determined it lacked personal jurisdiction over the co-founder. This ruling only applies to the defense stage, and other defendants, including CEO Jack Lu, remain on the lawsuit list. https://www.(wublock123.com)/news/us-judge-dismisses-class-action-against-magic-eden-me-token-69375