Overview
- In a brief Dec. 8 decision, the court refused to hear BSV Claims Limited’s appeal, saying it did not raise an arguable point of law or one of general public importance.
- Justices Lord Hodge, Lord Sales and Lady Rose issued the refusal, leaving intact decisions that narrowed the case.
- The outcome further weakens the $13 billion lawsuit against exchanges such as Binance and Kraken and signals limits on exchange liability for delisting decisions.
- Earlier rulings struck out the “forgone growth” theory and held that BSV holders aware of the 2019 removals had a duty to mitigate losses by selling in available markets.
- Claimants alleged coordinated 2019 delistings by Binance, Kraken, Shapeshift and Bittylicious breached U.K. competition law and caused losses, a contention now facing steeper hurdles after the Supreme Court’s move.