Online reported that the U.S. Court of Appeals for the Second Circuit ruled on Wednesday, basically supporting the lower court's decision to reject the class action lawsuit against the decentralized exchange Uniswap in 2023. In 2022, a group of investors sued Uniswap Labs and some of its venture capital investors, accusing the company of harming investors by allowing fraudulent tokens to be issued on its agreements. In 2023, District Court for the Southern District of New York Judge Katherine Polk Failla upheld Uniswap and dismissed the case. The plaintiff appealed Failla's ruling in September 2023, but the Second Circuit Court's decision on Wednesday largely rejected the appeal. The court upheld Failla's rejection of the plaintiff's claims under the Securities Act and the Exchange Act, holding that "it was 'against logic' for the drafters of smart contracts to be held accountable for abuse of the platform by a third party." The only part remanded for retrial is a state law claim, and plaintiffs will file similar charges under state law in New York, North Carolina and Idaho.