Tether Seems To Be Okay With The Merged Lawsuits Against It

A new update is in the Tether coin news today showing that the stablecoin is currently facing multiple lawsuits and recently received a request from prosecutors asking for consolidation – or combining three lawsuits into one. Even though this does not put the stablecoin in a good position, we can see that Tether seems to be okay with it and has not denied the consolidation request.

“We did not oppose the plaintiffs’ requests to combine these frivolous claims, originally filed, respectively, in October in New York, in November in Washington and in January in New York,” is what a recent Tether statement from Jan. 17, 2020 shows.

For those of you who don’t know, there are many parties which suspected Tether (USDT) alongside its related exchange Bitfinex, of foul play numerous times over their existence. Tether seems to be okay with it – even with one of the most recent ordeals on the subject that Tether and Bitfinex allegedly caused the Bitcoin bull run of 2017 by carrying out illegal activities.

The legal counsel for the lawsuits from Leibowitz, Young and Faubus filed a letter with the judge on January 16 requesting a merger of the three disputes. The letter also included that the mentioned lawsuits overlap in multiple areas and have similarities which is why the case allows for consolidation.

As a result of this, even three lawsuits against the stablecoin surfaced but Tether seems to be okay with them – even though they might be combined in a single prosecution now. Despite the fact that the combination may give the lawsuits more strength, Tether will probably defend itself at best in court.

Tether seems to be good with this and in the latest crypto news, the team gave a statement which read:

“A fourth class action was also filed in New York yesterday, which we expect will be consolidated with the previous three actions. None of these cases present meritorious claims.”

Additionally, Tether claimed that the research by the prosecutors is incorrect, adding that it “deploys preselected data to retrofit a desired narrative and demonstrates a patent misunderstanding of the cryptocurrency market.”