A class-action lawsuit that was brought against rapper T.I. has been dismissed in a US appellate court as it exceeded the statute of limitations. T.I. and Ryan Felton, his business partner, were accused of violating securities law after they sold unregistered FLiK tokens to investors in 2017.
According to court documents that were filed yesterday in the US 11th Circuit, the decision of the judges was to uphold a decision by a lower court to dismiss the complaint since its filing happened after the limitations period.
Investor Kenneth Fedance bought $3,000 worth of FLiK and sued T.I. and Felton in 2019 in the US Northern District Court of Georgia under the accusation of securities violation.
“Because we affirm the dismissal of the complaint as untimely, we do not reach Harris’s [T.I.’s] alternative arguments for affirmance, or Felton’s attempt to adopt them,” the appellant judges ruled.
Source: CoinDesk.com