Delchain Limited announces Voluntary Dismissal of Dreamr Complaint

On March 10, 2022, a complaint was filed against Delchain Limited (Delchain) with allegations related to a token launch and issuance by Dreamr Labs Limited (Dreamr) in the U.S. District Court for the Eastern District of New York. Delchain had vigorously denied the allegations as unfounded and unsubstantiated, and immediately filed a motion to dismiss the complaint. 

On July 12, 2022, the court held a hearing on the defendants’ motions to dismiss regarding the court’s lack of jurisdiction to hear the claim and the lack of specificity in the Complaint made against Delchain and the other defendants. Following this hearing, Dreamr filed a voluntary dismissal on July 15, 2022, without prejudice against Delchain and all parties named in the complaint. On July 18, 2022, the court dismissed the complaint without prejudice and closed the case.

Delchain takes these matters and its obligation to provide its clients with the top-level standard of custodial services very seriously.

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