U.S. court dismisses class action lawsuit against Uniswap over "scam tokens"

A U.S. federal judge ruled on Monday to dismiss the remaining state law claims against Uniswap Labs and founder Hayden Adams, with no possibility of refiling, marking the official end of this nearly three-year class action lawsuit. The plaintiffs accused Uniswap of providing a trading platform for “scam tokens” issued by third parties, but Judge Katherine Polk Failla held that smart contract code writers should not be held liable for misuse by third parties, and the plaintiffs failed to prove Uniswap had actual knowledge of the fraud. After the verdict was announced, the UNI token rose 6% to $3.92.