U.S. Court Throws Out Long-Running Scam Token Class Action Against Uniswap Labs

A federal court in the Southern District of New York has dismissed a multi-year class action lawsuit accusing Uniswap Labs and founder Hayden Adams of facilitating scam token trading on the Uniswap protocol. Judge Katherine Polk Failla rejected the plaintiffs’ second amended complaint with prejudice, finding they failed to plausibly allege the defendants’ knowledge of, or substantial assistance in, the alleged fraud. The ruling follows earlier dismissals of federal securities claims in August 2023 and a partial affirmance by the Second Circuit in February 2025.