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- OpenSea users who had tooklegalactionagainst the NFT market have dropped the fit
- The users will now argue their case through arbitration
- The users had implicated OpenSea of dealing in unregistered securities
Two months after they tooklegalactionagainst OpenSea for allegedly dealing in unregistered securities, Anthony Shnayderman and Itai Bronshtein have dropped the case. OpenSea informed the court that the 2 annoyed users stoppedworking to honor the terms and conditions they had signed when they signedupwith the platform. According to the NFT market, users needto engage in the arbitration procedure before going to court, which lowers the number of suits from dissatisfied users.
“No Other Choice,” Say Claimaints
The 2 OpenSea users, through their legalrepresentative, The Moskowitz Law Firm, composed to the court dismissing the suit soon after a Florida court approved the NFT market’s demand to manage their complaints through arbitration.
In its court filing last month, OpenSea stated that the users signed the terms of usage specifying, amongst other things, that all user issues needto go through arbitration. According to Shnayderman and Bronshtein’s legalrepresentative, the NFT market left them no option however to drop the fit.
Speaking to Cointelegraph, Adam Moskowitz stated that the case was indicated to align OpenSea to the worldwide audience