The one that started the crashes in 2022 and is considered the biggest Terra (Luna) after the collapse Terraform Labs and founder Do Kwon investigations were initiated.
In addition to these investigations, some investors and US companies also filed a lawsuit against Terraform Labs and its founder, Do Kwon.
However, the US investment company, which is one of the companies that sued, Albright Capital and law firms Scott & Scott and Bragar Eagle & Squire withdrew from the class action lawsuit against Terraform Labs in the USA at its own request.
According to court documents, Albright Capital and other plaintiffs Scott & Scott and Bragar Eagel & Squire said they voluntarily withdrew their complaints without prejudice to the defendants and without costs.
In the legal field, such voluntary withdrawals are often made to protect the plaintiff from potential negative financial consequences and the consequences of a possible judgment against plaintiffs.
US companies withdraw Terra lawsuit Terraform It’s also worth noting that it came just days after Labs filed a petition in the same court asking it to dismiss the case.
A spokesperson for Terraform, who made a statement, continued by stating that Terraform did not commit any crime:
“Nine out of nine arrest warrants by South Korean prosecutors have been rejected by the courts.
The intervening months have confirmed that the facts are on our side, and more will continue to come to light.”
The plaintiffs, who withdrew their case after about 6 months, filed their case against Terra in July 2022.
Plaintiffs complained that Terraform Labs and Do Kwon knowingly and willingly offered high prices to investors. LUNA They stated that they sold it and manipulated the LUNA price many times.
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