March 3 — A U.S. federal judge has dismissed the remaining state law claims against Uniswap Labs and founder Hayden Adams, bringing an end to the long-running class-action lawsuit, The Block reported. The suit sought to hold the decentralized exchange (DEX) protocol developer liable for fraudulent tokens traded on its platform. U.S. District Judge Katherine Polk Failla of the Southern District of New York issued a ruling with preclusive effect, dismissing the plaintiffs’ second amended complaint. She ruled the plaintiffs cannot hold the company accountable for misconduct by an unidentified third-party token issuer. Uniswap General Counsel Brian Nistler said the ruling sets an important precedent for the decentralized finance (DeFi) industry, reaffirming developers are not liable for third parties misusing open-source code for illegal activities.
