Another day, another precedent-setting ruling for DeFi. Today, Judge Failla dismissed with prejudice the Risley class action against @Uniswap Labs and @haydenzadams. The Federal charges had previously been dismissed, and today the various state claims are dismissed. Again, the premise is simple: “Plaintiffs’ theories of liability are still predicated on Defendants having ‘facilitated’ the scam trades ‘by providing a marketplace and facilities for bringing together buyers and sellers of Tokens[.]’ Though the claims have changed, the result is the same: Plaintiffs cannot hold Defendants liable for the misconduct of the unidentified third-party issuers.” To take my favorite quote from the last dismissal: It “‘defies logic’ that a drafter of a smart contract, a computer code, could be held liable … for a third party user’s misuse of the platform.” Read the opinion here: