UK court rejects ‘loss of chance’ argument in BSV lawsuit against Binance

A UK appellate judge has upheld a tribunal’s decision to strike out a key damages argument in the landmark BSV Claims Ltd v. Binance and Kraken class action, A UK appeals court has dismissed most of a $13.3 billion class action against Binance , rejecting claims that BSV could have matched Bitcoin’s ( BTC ) value if not delisted in 2019. The court ruled the damages were speculative and said investors had a duty to sell in the open market. Smaller claims from users who lost access or sold at a loss may still proceed. The case, launched by BSV Claims Ltd, seeks damages on behalf of BSV ( BSV ) investors following the cryptocurrency’s 2019 delisting from major exchanges Binance and Kraken. The representative claim had relied in part on a “loss of chance” argument, asserting that BSV would have gained in value and possibly become a top-tier crypto asset if not for the delistings. The Tribunal and now the court rejected that argument. You might also like: Why is the Dow Jones tumbling while Bitcoin and altcoins are rising? Holders could have sold According to the ruling, BSV holders who knew about the delistings (classified as “sub-class B”) had the opportunity to sell their holdings and mitigate their losses. Since BSV was a tradeable asset with comparable alternatives like Bitcoin and Bitcoin Cash, cited by the claimants themselves, the court found that holding onto BSV after the delisting was a voluntary investment decision, not a recoverable loss. The court also held that the loss of chance doctrine, typically applicable when outcomes hinge on third-party decisions, didn’t fit the facts. It found the case revolved around direct causation: whether BSV would have increased in value but for the delisting. That, the judge said, is a matter to be determined on the balance of probabilities, not speculation. The judge also criticized the absence of a formal order by the Competition Appeal Tribunal, noting that such an order would have clarified the scope of the claim, especially with an appeal pending. You might also like: Trump coin targets 40% gain as bullish pattern matures

Source: crypto.news