Bitfinex and Tether have replied to Judge Joel Cohen’s recent ruling in the New York Attorney General (NYAG) ongoing case against companies. Cohen dismissed Bitfinex’s motion to throw out the case due to lack of jurisdiction, so the NYAG will continue to prosecute the companies via the Martin Act.

Bitfinex issued its reply in an official blog post on Aug. 20. Tether published the same responseon its website, also on Aug. 20. The companies maintain that the NYAG’s claims are meritless and say they will pursue the issues at hand in appeals court.

Back in April, the NYAG filed a complaint against iFinex, Bitfinex and Tether alleging that the companies defrauded New York investors by covering up an $850 million loss on the Bitfinex trading platform. Attorney General Letitia James wrote:

“Our investigation has determined that the operators of the ‘Bitfinex’ trading platform, who also control the ‘tether’ virtual currency, have engaged in a cover-up to hide the apparent loss of $850 million dollars of co-mingled client and corporate funds.”

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