[U.S. Judge Dismisses Class Action Lawsuit Against Magic Eden Operator Over ME Tokens] Odaily Planet Daily reports that a federal judge in the Eastern District of New York has dismissed a class action lawsuit against Magic Eden's operating entity, Euclid Labs, and its co-founder Zhuoxun Yin regarding ME tokens. The plaintiffs alleged that the platform had promoted ME tokens as having cross-chain and buyback functionalities, but later transitioned into a gambling platform, causing the token's price to plummet by over 98%. The judge ruled that the wallet terms signed by users included a valid class action waiver clause, thereby stripping the federal court of subject matter jurisdiction under the Class Action Fairness Act. Additionally, the court determined it lacked personal jurisdiction over Zhuoxun Yin. This ruling applies only to the pleading stage, as CEO Jack Lu and other defendants remain on the lawsuit's docket.