Overview
- Judge Jennifer Rochon issued an 81‑page decision on Oct. 1, 2026 that dismissed the SDNY class action against Hayden Davis and related parties and closed the case “with prejudice” for the pleaded claims in that court.
- The court rejected the plaintiffs’ RICO theory because their filings did not show a sustained or threatened pattern of illicit activity, noting the alleged scheme lasted only months rather than the prolonged continuity RICO requires.
- Rochon also found the Southern District of New York lacked personal jurisdiction over key defendants connected to Kelsier Ventures, and she said the complaint failed to show Ben Chow acted with the specific intent to defraud.
- The ruling addresses legal sufficiency and forum limits rather than the truth of the allegations, so plaintiffs may appeal but the specific civil claims as pleaded cannot be refiled in SDNY.
- A separate criminal inquiry in Argentina led by prosecutor Eduardo Taiano remains active, with local courts limiting investor participation as querellantes and keeping open the possibility of criminal or prosecutorial action there.