A United States court has ruled in favor of the Securities and Exchange Commission (SEC) in a case involving Terraform Labs and its former CEO, Do Kwon. The court granted summary judgment for the SEC on Count IV of the Amended Complaint, which pertains to the defendants’ unregistered offers and sales of LUNA and MIR tokens in violation of Sections 5(a) and (5c) of the Securities Act.

However, the court also granted summary judgment for the defendants on Counts V and VI of the Amended Complaint, which relate to alleged unregistered offers of and transactions in security-based swaps.

A jury trial is scheduled to begin on January 29, 2024. This is an ongoing story, and more information will be provided as it becomes available.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography North America
Sentiment neutral
Relevance Score 1
People Do Kwon
Companies Securities and Exchange Commission (SEC), Terraform Labs
Currencies Mirror Protocol, Terra Luna Classic
Securities None

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